Charlevoix County Real Estate Lien Warning

The Charlevoix County Register of Deeds office warned residents Feb. 1 about agreements that companies like MV Realty offer homeowners. These deals promise cash upfront in exchange for the right to list the property if the owner sells.

The agreements create liens lasting up to 40 years and can transfer to future owners. They complicate refinancing, securing mortgages, and transferring property to family members. Termination fees, while stated as a percentage, can amount to thousands of dollars based on the home's market value.

The Register of Deeds urges homeowners to consult a lawyer or real estate professional before signing. MV Realty faces litigation in at least three states and is under investigation by the Federal Trade Commission.