MV Realty Begins Terminating 40-Year Contracts in Florida
June 26, 2025
MV Realty has started releasing Florida homeowners from its 40-year predatory contracts nearly four months after the 13th Judicial Circuit in Hillsborough County, Fla., ordered the brokerage to terminate the agreements.
This is another milestone in the effort to ban these predatory Non-Title Recorded Agreements for Personal Service (NTRAPS) and protect homeowners. ALTA has led the way getting these contracts banned.
Prior to the judicial decision, more than 30 states passed ALTA-drafted legislation to outlaw NTRAPS and aid consumers who had fallen prey to these schemes.
Florida filed a lawsuit against MV Realty in November 2022, saying the company devised a “complex and deceptive scheme that attempts to skirt existing Florida law with the goal of swindling consumers out of their home equity through its Homeowner Benefit Program.”
Last year, the Superior Court of California for the County of Los Angeles issued a preliminary injunction against MV Realty.
Contact ALTA at 202-296-3671 or [email protected].