TAMPA, Fla. — A Hillsborough County judge decided this month to wait for a bankruptcy ruling before setting a critical hearing in the Florida Attorney General’s case against MV Realty.
The Office of the Attorney General is asking for a temporary injunction that would force MV Realty to remove thousands of liens it recorded on homeowners’ properties across the state.
Florida-based MV Realty came under fire last year when the AG filed a lawsuit in Hillsborough County alleging “defendants engage in a complex and deceptive scheme that attempts to skirt existing Florida law with the goal of swindling consumers out of their home equity.”
The company offers homeowners about $300 to $5,000 in up-front cash in exchange for signing a contract that gives MV Realty exclusive rights to be their realtor if they ever decide to sell. However, the contract lasts 40 years, and according to the Attorney General’s office, it gets filed as a lien. Homeowners often face a lawsuit and hefty fines for breaking the contract.
An attorney for MV Realty told 10 Investigates in May the company stands behind its business model.
"We think this is an overreach by the attorney general,” attorney Chris Oprison said. “And if you look at the contract, the contract's clear. Everybody knew what they were getting into when they signed the contract. They might not like it, but that doesn't make it an invalid contract."
MV Realty’s bankruptcy hearing is set for February.
A spokesperson for the Office of the Attorney General could not offer comment as the case is ongoing.
Emerald Morrow is an investigative reporter with 10 Tampa Bay. Like her on Facebook and follow her on X. You can also email her at emorrow@10tampabay.com.