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AG announces settlement with UMH

Nov 14, 2018 1:00 pm
Sarah Trafton is reporting for Columbia-Greene Media State Attorney General Barbara Underwood has ordered UMH Properties to reform its rental practices following an investigation into allegations that down payments were charged to tenants in an illegal rent-to-own plan. Under the scheme, renters were expected to make large, non-refundable deposits did not receive title to the property until after the payment period was over, and bore full responsibility for all home repairs. The park did not assume liability for any tenant injuries on the property, as well. UMH agreed to the settlement, but has denied any wrongdoing. The attorney general’s office announced October 18, an agreement had been reached between the state and eight companies, including UMH. Under the terms of that settlement, the AG's office will allow renters to cancel their purchase agreements, and any deposits made by the renter, as well as the cost of home repairs, will be refunded within 45 days. The park will also be held responsible for any injuries that occur on the property. “New Yorkers across the state are already struggling to afford a home and these companies took advantage of that struggle, promising homeownership and instead leaving families with default, eviction, and financial devastation,” Underwood said in a statement. Representatives of UMH insisted their company did not take part in any shady rent-to-own plans. It said UMH merely paid the $1,000 settlement for the sake of expedience. Coxsackie Village Mayor Mark Evans said he was unaware of the settlement. UMH sued Coxsackie village in March over the village's development restrictions. That case is currently pending. Read the full story at HudsonValley360 [dot] com.
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