New Castle County Delaware ruled that effective June 14, 2012, Fannie Mae and Freddie Mac will NO LONGER be exempt from transfer taxes on the sale of homes.
The New Castle County law department has recently ruled on transfer taxes on transactions involving Fannie Mae (Federal National Mortgage Company) or Freddie Mac (Federal Home Loan Mortgage Company). Historically, purchases from these entities have been treated as exempt from transfer tax as a conveyance from a governmental agency. In fact, Fannie Mae and Freddie Mac are NOT governmental agencies – they are federally chartered private corporations. New Castle County has decided to enforce that distinction starting on June 14, 2012.
