Fannie, Freddie Don't Have To Pay Transfer Tax: 7th Circ.

Law360, Los Angeles (March 13, 2014, 4:22 PM EDT) -- The Seventh Circuit on Thursday joined several other appeals courts in ruling that Fannie Mae and Freddie Mac's congressional charters exempt them from paying state and local real estate transfer taxes, despite a requirement that they pay property taxes, rejecting a challenge by Illinois and Wisconsin counties.

A three-judge panel refused to revive lawsuits that Milwaukee County, Wis., and DeKalb County, Ill., filed on behalf of all counties in their respective states against the the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac...
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