By David Thomas

July 22 (Reuters) - A Florida real estate company that was sued by more than a dozen state attorneys general for allegedly deceptive trade practices has filed a legal malpractice lawsuit seeking as much as $1.2 billion from its former lawyers at law firm Holland & Knight.

In a lawsuit filed Tuesday in the 11th Judicial Circuit Court for Miami-Dade County in Florida, MV Realty said Holland & Knight provided faulty legal advice when crafting a Homeowner Benefit Agreement (HBA) with an early termination fee for home buyers, which multiple state attorneys general assailed as "unconscionable" and "unfair" in litigation.

The HBA was a 40-year agreement in which MV Realty paid homeowners up front in exchange for using the real estate company as their broker if they chose to sell their home. But U.S. states that took action against MV Realty alleged the agreements were actually liens that required homeowners to pay MV Realty an early termination fee worth 3% of a home's value when they sold or transferred the property.

More than 30 states opened investigations into MV Realty's HBA program, with 16 of them filing lawsuits, MV Realty's lawsuit said. MV Realty said state courts have repeatedly terminated the HBAs and deemed the early termination fee unenforceable.

MV Realty said it has taken the blame for Holland & Knight's legal work, alleging the firm has "avoided public responsibility while more than 600 negative news articles and television reports have destroyed the personal and professional reputations of MV’s officers."

The lawsuit names Holland & Knight and three partners — Jesus Cuza, Rebecca Canamero and Raul Cosio — as defendants. A spokesperson for the firm and the partners did not immediately respond to requests for comment.

Attorneys for MV Realty did not immediately respond to a request for comment.

The company said it followed Holland & Knight's advice and argued that the firm should have either designed a lawful, enforceable version of its business or told MV Realty it was not possible to do so lawfully before the company invested $156 million into the venture.

MV Realty said it is seeking a judgment between $400 million and $1.2 billion in damages.