After nearly two years of legal proceedings, a Hillsborough County judge has ruled against MV Realty, a Florida-based real estate firm accused of exploiting homeowners through its controversial 40-year Homeowner Benefit Agreements. The court deemed the contracts “unconscionable” and sided with the Florida Attorney General’s Office, which had filed a 2022 lawsuit accusing the company of deceptive practices designed to bypass state laws.
Between 2018 and 2022, more than 9,000 Florida homeowners entered into long-term contracts with MV Realty in exchange for cash payments ranging from $300 to $5,000. In return, homeowners were bound to use MV Realty as their exclusive real estate agent when selling their properties. The contracts were recorded in public records, similar to liens, and homeowners who violated the agreement faced legal action and a penalty of three percent of the home’s value.
“They held me hostage to where I could only do business with them,” said homeowner Celine Davidson. Davidson and many others were shocked by the binding nature of the contracts.