Idaho voids MV Realty’s right-to-list contracts in settlement

According to Labrador, the settlement voids the contracts “as if they never existed.” During the course of their investigation, Labrador’s office claims they discovered that MV Realty’s contracts contained terms that the company “intentionally concealed because no reasonable family would agree to them.”

As part of the settlement, MV Realty is required to contact every recorder in the county of Idaho to remove the contracts from homeowners’ property records. In addition, MV Realty and its three key executives Amanda Zachman, Anthony Mitchell and David Manchester are all banned from working in residential real estate in Idaho for five years.

“Idaho families were tricked into signing contracts that locked them into 40-year obligations with enormous fines if they tried to use another drug. [real estate agent]Labrador said in a statement: “Our lawsuit forced them to void all these predatory agreements and leave Idaho for five years so that our families can freely sell their homes without fear of scams designed to exploit them.”

Labrador was one of them 13 attorneys general to sue MV Realty over its program. In addition to these lawsuits, as of 2023, 33 states have passed legislation banning the use of these types of programs. MV Realty filed for Chapter 11 bankruptcy protection in September 2023, but has since withdrawn the filing.