Bulletin: FL2025001

Dear Associates:

This is a follow up to Stewart Bulletin SLS2024011 related to Homeowner Benefit Agreements (“HBA”) utilized by MV Realty PBC, LLC (“MV Realty”). As you may be aware, the Florida Attorney General initiated an action for damages and injunctive relief related to MV Realty’s use of HBAs in the State of Florida in Hillsborough County Case #22-CA-009958.

On February 12, 2025, the Circuit Court entered an injunction against MV Realty and MV Realty was ordered to provide homeowners a termination of the recorded Memorandum associated with an HBA upon request to proceed with a transaction on an affected property. The injunction order is currently under appeal, but it is still effective and has not been stayed as of the date of this bulletin.

We have been provided copies of several versions of terminations provided by MV Realty pursuant to the Order. 

One version of the Termination includes the following language in the title:

(TERMINATION SUBJECT TO RESCISSION BY ORDER OF THE COURT)

In addition, it includes this language in the body of the Document:

(ABSENT FURTHER ORDER FROM THE COURT)

MV Realty is presently utilizing a different version of the Termination of Memorandum of Homeowner Benefit Agreement that does not include the above provisions, but includes the following conditional language, which expressly reserves MV Realty’s rights against any parties:

(THIS TERMINATION IS RECORDED PURSUANT TO A COURT ORDER, WHICH IS CURRENTLY BEING APPEALED BEFORE THE SECOND DISTRICT COURT OF APPEAL IN THE STATE OF FLORIDA. THIS APPEAL, AND ANY SUBSEQUENT APPEAL(S), MAY RESULT IN THE REVOCATION OF THIS TERMINATION AND REINSTATEMENT OF THIS MEMORANDUM. THE COMPANY RESERVES ALL RIGHTS, INCLUSIVE OF ALL APPELLATE RIGHTS, AND ALL EQUITABLE AND LEGAL REMEDIES AGAINST ANY AND ALL PARTIES RESULTING FROM A SUCCESSFUL APPEAL OF THE ORDER REQUIRING THIS TERMINATION.)

Stewart Title Guaranty Company is unwilling to rely on a Termination received from MV Realty which includes these provisions, or similar provisions, which limit the effectiveness and finality of the release. Associates are directed to continue to follow the requirements found in SLS2024011, including receipt of an unconditional release of the property, to remove a requirement for release of a recorded Memorandum/HBA.

If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.

For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.