Jeffrey Jahns and Daniel Hagedorn authored an article in Law360, “2 Decisions Extend Chicago’s Transfer Tax Ordinance”

Jeffrey Jahns and Daniel Hagedorn authored an article on August 21 in Law360 on two recent Circuit Court of Cook County decisions that reviewed and analyzed the Chicago Real Property Transfer Tax Ordinance to determine whether one who purchases a loan and mortgage through an assignment of mortgage acquires a “beneficial interest in real property” such that the parties are subject to transfer taxes on the assignment, and further, whether the transaction qualifies under Exception C of the ordinance, which exempts from taxation the granting of mortgages.