Attorney General Rob Bonta Secures Major Settlement with MV Realty

​In October 2023, Governor Gavin Newsom signed into law AB 1345, which went into effect on January 1, 2024. Sponsored by Attorney General Bonta and strongly supported by the CLTA, AB 1345 imposed a two-year limit on residential exclusive listing agreements and clarifies that these agreements cannot be filed with a county recorder.

Now, ahead of a scheduled trial California Attorney General Rob Bonta has secured a settlement holding Florida-based MV Realty, its Chief Executive Officer (CEO), and its Chief Operating Officer (COO) accountable for operating a scheme that provided immediate cash payments to financially vulnerable homeowners in exchange for the exclusive right to be their listing agent if they ever sold their homes in the next 40 years.

MV Realty began actively operating in California in early 2022. The settlement resolves the lawsuit filed against MV Realty by Attorney General Bonta and the Santa Barbara County and Napa County District Attorneys’ Offices in December 2023. In September 2024, they secured a preliminary injunction against MV Realty, which was upheld on appeal in December 2025, requiring the company to terminate its liens. 

As a result of the settlement: 

• All homeowner contracts are void.
• MV Realty must individually terminate all liens.
• MV Realty, its CEO, and its COO are prohibited from engaging in any business in California that requires a real estate license for 5 years.
• MV Realty must pay full restitution to consumers, totaling over $1.3 million as well as nearly $1.2 million in civil penalties, for a total monetary judgment of $2.5 million.

A copy of the Attorney General’s announcement can be found at here.