FedUpUSA

Fannie & Freddie: “We Don’t Have To Pay Transfer Taxes On Deeds!”

 

OH YES YOU DO! ….. (in Michigan anyway)

In the end, this case turns on a single question: whether a statutory exemption from “all taxation” includes excise taxes such as the Michigan Transfer Taxes. Wells Fargo dictates that it does not. Accordingly, the Enterprises are liable for the Transfer Taxes.

Plaintiffs’ and State Plaintiff’s motion for summary judgment is GRANTED. Defendants’ motion is DENIED. The issue of damages remains.

Psst — you know all those counties across the country that seem to be a bit shy on their revenues?

Time to go get the money you’re owed…

Oakland County Order FHFA

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