- North Carolina AG Jeff Jackson obtained consent judgments against MV Realty and company executives after a North Carolina Superior Court held them liable for unfair and deceptive trade practices and violations of state telemarketing and robocall laws related to the company’s 40-year Homeowner Benefit Agreements.
- The AG’s office alleged that MV Realty gave homeowners small upfront payments in exchange for 40-year exclusive listing agreements requiring homeowners to pay the company a 3% to 6% commission upon any transfer of the home, even if they did not use MV Realty to sell it.
- The court previously held that MV Realty violated state consumer protection and telemarketing laws by recording memoranda that falsely claimed the agreements ran with the land, filing lis pendens notices against homeowners’ properties, collecting unenforceable early termination fees, and making unlawful telemarketing calls and robocalls in connection with the HBA program.
- According to the AG’s office, the consent judgments void MV Realty’s remaining North Carolina agreements, permanently ban the company from doing business in the state, require $1.32 million in restitution, and impose 10-year business restrictions on certain company-associated individuals.
- As previously reported, AGs in other states have also challenged MV Realty’s long-term homeowner listing agreements, including enforcement actions in Colorado, New Jersey, Minnesota, and Florida.