This article is not intended to evaluate the legal merits of the asserted interest nor the legal efficacy of the agreement, but simply to notify you that our experience and information is that these agreements are popping up in multiple jurisdictions across the country, and in the event MV Realty determines that its “rights” have been overlooked and a sale occurred subsequent to the recording without obtaining a release, they have been tenacious in seeking to enforce a lien, and their demand for a release or payoff is typically for a substantial dollar amount – thousands of dollars in excess of the sums paid to the owner at the time of recording. The recorded Memorandum is a summary of the entire agreement between the entity and the property owner, but it provides in pertinent part that “the obligations of Property Owner under the Agreement constitute covenants running with the land and shall bind future successors in interest in title to the Property.” To summarize, the position asserted in the Memorandum is that the Agreement binds not only the person signing the agreement but any successors in interest who acquire title subsequent to its having been recorded. These agreements are an arrangement with the homeowner that may involve financial and listing rights for the property. We have received inquiries from agents and have become aware of recorded documents that might create possible rights of an entity called MV Realty or a recorded instrument identified as an MVR Homeowner Benefit Agreement. A copy of the complaint can be found here: Lawsuit The Florida Attorney General has filed an action in the Circuit Court in and for Hillsborough County alleging MV Realty is using a ”Complex and deceptive scheme” against homeowners.
Augby David Hollamby Real Estate 0 comments MV Realty and MVR Homeowner Benefit Agreementsīy: Barry Miller, Esq., of Barry L.
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