Old North News

(RALEIGH) Attorney General Josh Stein released the following statement after Judge Mark Davis granted the Department of Justice’s motion for a preliminary injunction against real estate company MV Realty.

“I’m pleased that Judge Davis agreed with our office that MV Realty cannot continue to take advantage of hardworking homeowners while this case continues. This company has preyed on too many North Carolinians, and we’ll do everything in our power to provide relief for the more than 2,000 victims and to make sure that they can’t harm others in our state ever again.”

In his order, the judge indicated that the Department of Justice will likely succeed on its allegations that MV Realty has acted in ways that have the capacity to deceive, and actually have deceived, homeowners in North Carolina. Because of MV Realty’s actions, Attorney General Josh Stein worked with legislators to pass the Unfair Real Estate Agreements Act, which Gov. Cooper signed into law last week. The law prohibits “Right to List” service agreements – such as the ones used by MV Realty – that exceed one year in duration and purport to run with the land, create a lien or security interest on a homeowner’s property, or are otherwise assigned without the homeowner’s clear consent.

Original source can be found here.