California Accuses Real Estate Company of ‘Deceptive’ 40-Year Exclusive Contracts

California Accuses Real Estate Company of ‘Deceptive’ 40-Year Exclusive Contracts
A "sale pending" sign is displayed in front of a home for sale in San Rafael, Calif., on May 24, 2010. Justin Sullivan/Getty Images
Rudy Blalock
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Some Californians have fallen victim to alleged deceptive practices by a real estate brokerage that’s subject to investigations in several states, as unsuspecting victims were roped into confusing contracts and penalized hundreds of thousands of dollars to cancel, according to state officials.

Attorney General Rob Bonta announced Dec. 14 he filed suit against the agency, MV Realty, alleging that nearly 1,500 Californians entered into “unlawful agreements,” with the company.