Georgia Bans MV Realty for Deceptive Business Practices

The state of Georgia formally banned Florida-based MV Realty following accusations that the company trapped customers in contracts that spanned up to four decades.

State officials said that hundreds of aggrieved Georgians will be getting money back following a $1 million-dollar settlement of a lawsuit filed by the state’s attorney general, Chris Carr, in 2024, accusing MV Realty of deceptive and unfair business practices. Around 12 states sued MV Realty and 32 passed new laws to limit their operations or outright ban them, according to WSB Channel 2.

Shawn Cunroy, the Georgia attorney general’s communications coordinator, said that MV Realty was marketing a “homeowner benefit program” as a get-cash-quick, zero loans required move that didn’t expressly communicate a separate, illegal clause, according to the outlet. The clause specified homeowners would utilize the company’s agents when trying to sell, transfer ownership to another person, or go into foreclosure, or pay a penalty fee.

MV Realty signed upwards of 3,300 Georgians up for the program, which included the memorandum that functionally installed a lien on their property to collect a 3 percent termination fee. The memorandum also hindered homeowners’ ability to refinance their home, according to a press release from the Georgia attorney general’s office.

The settlement money will go to customers that were forced to pay an unlawful early termination fee to get out of the predatory contract, according to the statement.

“Do business in Georgia, but do it fairly,” Cunroy said.

Cunroy also stated that customers affected don’t need to contact the state for restitution, as they’ve already been identified and the state will be contacting them.

“It’s unconscionable, and it’s why we took action to put a stop to their predatory scheme once and for all,” Carr said in the press release. “We’re sending a strong message that this type of illegal behavior won’t be tolerated in this state.”

— Hunter Cooke