Series LLC

Previously, real estate investors preferred holding each property as a separate Limited Liability Company (LLC). As a result, each investor held numerous LLCs and paid high costs creating the multiple LLCs. This process made it difficult for investors to manage their properties

The new trend for real estate investors is creating a Series LLC. In a Series LLC, investors can own multiple properties and businesses in one LLC and compartmentalize their assets into separate cells. Conceptually, the separate cells are like sub-companies, or subsidiaries, of a parent company. The benefits of a Series LLC are simplicity, cost effectiveness, and liability separation. At Pratt Aycock, our attorneys can assist you form a Series LLC and possibly convert an existing LLC to a Series LLC.

Before an investor creates a Series LLC, they should consult our attorneys to determine if the business and properties should be mixed into one LLC. An investor can create many problems within a Series LLC if one asset produces a higher level of liability, if the assets have significantly different debt structures or tax treatments, and much more. The experienced attorneys at Pratt Aycock can provide proper advice regarding the creation of a Series LLC.

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Foreclosures

Many Americans face the reality of losing their homes or property because of overwhelming debt and conditions beyond their control. Unfortunately, sometimes the long-term effects of a foreclosure can be even more devastating than the foreclosure itself. At Pratt Aycock, our attorneys take a strong approach to defend foreclosures.

Losing a home or property to foreclosure is a frightening thought. However, when working with Pratt Aycock, you can take an aggressive stand to defend the foreclosure.

What is a foreclosure?

A foreclosure is the process of taking possession or control over a mortgaged property due to the homeowner’s failure to comply with payments. At this point, the homeowner must pay off the outstanding balance or sell the property through a short sale to avoid foreclosure.

Foreclosure is a remedy available to the mortgage holder when a borrower defaults. In order to determine if there has been a default, Pratt Aycock can work with you to carefully examine the loan documents. The foreclosure gives the mortgage holder the right to sell the property in an effort to pay off the mortgage or liens.

In most states, a foreclosure may be judicial or non-judicial. A judicial foreclosure is ordered by a court and a non-judicial foreclosure occurs on the courthouse steps. Foreclosures remove junior liens, but it does not eliminate tax obligations. A junior lien is a loan taken out with your house as collateral and there is already another loan secured by your house.

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Estate Planning

Estate planning is the process of transferring your property or assets in the anticipation of death. The purpose of estate planning is to preserve the maximum amount for your intended beneficiaries. An estate is a person’s total property, real and personal. Real property is real estate. Personal property is everything else, for example cars and household items.

Each person’s estate is different. Therefore, it is important to consult knowledgeable attorneys to discuss whether your property should pass through a will or trust. Each method of transfer consists of various exceptions and cost, which vary according to the circumstance. At Pratt Aycock, our attorneys can assist you to optimize the transfer process to your intended beneficiaries. Our experienced attorneys understand the sensitivity of transferring property and can handle each case with the care it deserves.

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Real Estate Transactions

The sale of real property can become complicated with the numerous steps and parties involved. From the initial offer to the closing, the attorneys at Pratt Aycock work closely with their clients to aid a stress-free transfer.

At Pratt Aycock, our attorneys are highly experienced and skilled in the real estate market. Our firm takes pride in our comprehensive title and closing services. Our attorneys can handle all aspects of real estate transactions, including:

  • Drafting or reviewing contracts
  • Negotiating real estate agreements
  • Reviewing lending documents
  • Evaluating contracts and resolving potential problems
  • Assessing land use and zoning
  • Conducting real estate closing

Pratt Aycock specializes in real estate transactions and our qualified attorneys can help guide you through the complicated process of buying and selling property.

CFPB Foreclosures Series LLC Closing Services/Title Insurance Landlord-Tenant
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Probate

After losing a loved one, it can be difficult thinking about the legal responsibilities. Dealing with the complications of the court process and understanding property distributions can be overwhelming. With the assistance of an experienced lawyer, handling estate and probate issues can become easier.

When a person passes away, their property distributes through either probate or non-probate. Probate property normally includes any real estate, vehicles, cash, stocks, or bonds. Non-probate property usually consists of life insurance, joint bank accounts, IRA accounts, and other investment accounts. Identifying the types of property and probating with or without a will varies for each person.

At Pratt Aycock, our attorneys are committed to assisting clients navigate through the probate process. Our attorneys work closely with the executors and administrators to help them fulfill their duties.

Contact us today to learn more about the probate process and how our attorneys can help you.

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Debtor-Creditor

Debtor-creditor law arises when one party cannot pay a debt to another. Creditors may use statutory or judicial process to have their debts satisfied. Understanding your rights and responsibilities in a debtor-creditor relationship can be complicated. With skilled attorneys on your side, you can properly understand your responsibilities and assert your rights.

At Pratt Aycock, our attorneys represent and assist all types of debt and creditor issues. Our attorneys handle each case with professionalism. The following are some situations our attorneys normally handle:

  • Commercial collections
  • Judgment collections
  • Unsecured collections
  • Debtor and creditor matters
  • Creditors rights
  • Texas debt collection

Contact us today to learn more about the debtor-creditor relationship.

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Civil Litigation

At Pratt Aycock, clients will find attorneys who know their way around a courtroom and how to win cases. Many law firms claim to have a team of litigators. However, few law firms take many cases to trial. Due to the nature of litigation, sometimes settlement is the right thing for a client. Other times, however, settlement is just a way to resolve the dispute for what you can get and move on.

At Pratt Aycock, we are true trial attorneys. We believe the only place to measure success is where it matters to our clients, in the courtroom. While settlement is always a consideration, it may not be in our clients’ best interests. In that case, we view settlement as only an option for the opposition. The opposition is not always ready to go to court and mount an effective attack or defense. However, when trial is imminent, our attorneys are always prepared and ready to defend our clients.

Because of our years of experience and the breadth of our practice, we are able to represent clients involved in a wide range of disputes, including:

Breach of Contract Commercial Litigation Constitutional Law Construction Law Corporate Governance Land Use
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Consumer Financial Protection Bureau

Consumer Financial Protection Bureau (CFPB) creates rules and regulations to protect and assist consumers to maintain control over their finances and economic lives. Under the CFPB, lenders are called creditors and borrowers are called consumers.

The updated CFPB requires two main disclosures, first, the loan estimate and second, the closing disclosure. The loan estimate is a combination of the initial truth in lending disclosure and the good faith estimate. The closing disclosure combines the final truth in lending disclosures, the itemization of amount financed and the HUD settlement statements. These disclosures can be overwhelming and tedious.

Because the CFPB is so extensive, our firm has the broad range of knowledge to provide in-depth guidance as the CFPB changes the consumer market. At Pratt Aycock, our attorneys advise on CFPB regulations and assist consumers with evaluating their disclosures. Our experienced staff frequently represents clients in relation to CFPB claims.
Pratt Aycock is at the forefront of monitoring developments in the CFPB, and our firm takes a prominent role in analyzing the CFPB.

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Criminal Defense

If you have been arrested or are under investigation for a criminal offense in Tennessee or throughout the United States, it is critical you make every effort to obtain an experienced and knowledgeable criminal defense attorney to assist you.

Mr. Roskind, an experienced attorney in Pratt Aycock’s Tennessee office, is a two-time Chair of the Tennessee Bar Association’s Criminal Justice Section, a member of both the National Association of Criminal Defense Lawyers and the Tennessee Association of Criminal Defense Lawyers. Our attorneys have handled almost every type of criminal prosecution, from simple misdemeanors to complex, multiple defendant homicides, and represented individuals from all walks of life. We successfully represent clients in trial and on appeal, in state and federal court. Although we cannot guarantee outcomes, Pratt Aycock does guarantee that we stand with our clients and we advocate for our clients—regardless of the charge and potential punishment.

Regardless of the charges, everyone accused of a crime has certain Constitutional Rights. To ensure your rights are properly protected, contact Pratt Aycock.

DUI & DRIVING OFFENSE:
DUI & Related Crimes
Driving on a Suspended License
DRUG & GUN CRIMES:
Drug Trafficking Drug Possession
Felon in Possession

THEFT CRIMES:
Burglary
Robbery
Shoplifting

SEX CRIMES:
Rape
Sexual Battery
Child Pornography

VIOLENT CRIMES:
Assault
Arson
Domestic Violence
Gun Crimes
Homicide
Kidnapping

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Criminal Defense (white collar)

Pratt Aycock represents corporations, boards of directors, management, and other individuals in connection with a broad range of government investigations, enforcement actions, internal investigations, and white-collar criminal investigations and litigation.

The close coordination between criminal and civil regulatory authorities has increasingly blurred the line separating criminal, civil, and administrative offenses, resulting in heightened risks when conducting business. Pratt Aycock is well positioned to help clients navigate the legal landscape when business conduct results in concurrent criminal, civil, and/or administrative proceedings that require a strategically coordinated response.
The firm defends corporations, directors, officers, and employees against allegations in various business contexts and at every stage of the enforcement process, including federal and state grand jury investigations, trials, and appeals. We handle investigations and civil and administrative proceedings brought by regulatory bodies such as the Securities and Exchange Commission, Financial Industry Regulatory Authority, the Federal Trade Commission, the Internal Revenue Service, the Commodity Futures Trading Commission, federal banking regulators, and state attorney generals throughout the United States.

Our cases span the full gamut of subject areas and types of allegations, including:

  • Accounting Fraud
  • Antitrust
  • Consumer Financial Services
  • Environmental Violations and Regulatory Compliance
  • Claims Act/Qui Tam Litigation
  • Government Procurement Fraud
  • Health Care Fraud and Abuse
  • Insurance Fraud
  • Mail and Wire Fraud
  • Money Laundering and Bank Secrecy Act
  • Public Corruption and RICO
  • Securities Fraud and Insider Trading
  • Tax Offenses

The firm handles all aspects of criminal trials and related civil and administrative actions in federal and state courts, as well as before administrative law judges. We also have an experienced appellate counsel who pursues appeals of adverse criminal judgments and unfavorable civil and administrative determinations. The firm regularly advises corporate clients regarding the establishment and implementation of business ethics compliance programs and provides counsel with respect to specific compliance concerns.

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Family Law

Family law mattes are often an overwhelming experience for most parents and children, and can be one of the most traumatic experiences of a person’s life. Consequently, it is crucial that you select an attorney that will enable you to come out of the divorce process both emotionally and financially stable.

The attorneys at Pratt Aycock have the experience you need in negotiating and finalizing family law cases. Our attorneys can handle all family law issues, including:

Adoption Child Custody, Visitation, & Support Collaborative Law Divorce Domestic Partnerships Marital Separation Mediation Pre-nuptial & Post-nuptial Agreements Property Division Spousal Maintenance
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Municipal Law

As municipal law becomes an increasingly complex field, city officials need the assistance of experienced attorneys. Pratt Aycock is dedicated to exclusively serving Texas municipalities. We are committed to bringing a high level of experience and efficiency to small cities that do not have in-house legal departments.

At Pratt Aycock, we believe in doing what we do best: treating the client right. We treat the client right by providing accurate, efficient, and timely advice on legal issues affecting them the most. We also believe in public representation with a customized level of service that is best suited to the particular needs of each client.
We are constantly aware of precedent-setting cases and fluctuating legislation that continually affect municipalities and other local government entities. Our attorneys can develop solutions, which are inventive yet work in the real world. Our expertise also enables us to more resourcefully accomplish the job, usually at a cheaper cost to our clients, and achieve their desired result. Our attorneys assiduously practice in the areas of municipal and local government law. Our expertise and particular emphasis includes:

  • Annexation and boundary issues
  • Economic development and incentives
  • Tax abatement
  • Land use, zoning and planning
  • Governmental contracts
  • Public works and construction
  • Eminent domain, inverse condemnation and regulatory takings
  • Water rights and drainage issues – Texas Commission on Environmental Quality (formerly TNRCC)
  • Elections
  • Constitutional claims and civil rights
  • Urban affairs
  • Legislative and administrative process
  • Open meetings and public records
  • Tort claims, wrongful death and personal injury
  • Trial and appellate litigation in state and federal courts
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Texas Deceptive Trade Practices

The Deceptive Trade Practices Act (DTPA) prohibits sellers against false, misleading, and deceptive business practices, unconscionable actions, and breaches of warranty. A DTPA violation occurs when a good or services does not meet the standards the seller promised to the consumer.

At Pratt Aycock, our attorneys protect consumers against unscrupulous sellers from unfair business practices. Consumers who suffer from unfair practices must have above average representation to be adequately compensated for their damages. The attorneys at Pratt Aycock understand the difficulties consumers face and have the experience to redress the harm suffered.

Alternatively, the DTPA can create major problems for businesses. The terms under the DTPA are broadly defined, meaning consumers can bring a claim for numerous reasons against a business. Business should do everything they can to prevent possible disputes under the DTPA. Pratt Aycock assists businesses against frivolous lawsuits brought by consumers and helps protect business from the beginning to prevent a DTPA claim.

What conduct is prohibited by the Deceptive Trade Practices Act?

The full edition of the Texas Deceptive Trade Practices Act can be found in Chapter 17 of the Texas Business and Commerce Code. Section 17.46 contains a list of broad violations, including:

  • Misrepresentation of goods or services’ characteristics
  • Misrepresentation of the standard or quality of goods or services
  • Misrepresenting the rights and remedies in an agreement
  • Intentionally failing to disclose information concerning the good or service to induce the consumer into a transaction
  • Passing off goods or services as those of another
  • False warranties
  • Price gauging after a disaster
  • Falsely advertising a company is going out of business
  • False disparagement of goods or services of another business
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Business Representation

The attorneys and staff of Pratt Aycock are dedicated to protecting your corporate interests, allowing you to focus on day-to-day business priorities. Regardless of your company’s current size, to remain profitable and achieve consistent growth, we must think and act dynamically. With our years of experience representing both locally owned and operated companies as well as larger national branded entities, Pratt Aycock is especially adept at solving today’s legal problems before they turn into tomorrow’s economic disasters.

General Counsel Services:

Entrepreneurs, emerging venture capitalists, and growth companies require sophisticated legal services at early stages of their enterprises, long before in-house counsel is feasible or desirable. Other more mature organizations with in-house legal counsel departments may also find themselves in need of additional support for important recurring functions outside the scope of in-house counsel expertise. With Pratt Aycock’s multistate presence, we are in a unique position to assist both local and regional companies as well as those with national brands.

 

General Counsel Services include:

  • Corporate Governance, including entity selection and formation and stockholder/membership/partnership agreements
  • Research and Development Agreements
  • Manufacturing and Supply Agreements
  • Joint Ventures and Strategic Transactions and Relationships
  • Venture Capital and Private Equity Financings
  • Mergers and Acquisitions
  • Executive Compensation, including stock options, restricted stock and other equity compensation
  • Human Resources and Employment Matters, including hiring, retention and termination, unemployment compensation defense, and employee handbooks
  • Ordinary Course Contracting

Business Formations

One must take several preliminary steps before starting their own business. One of the most important steps is choosing the proper formation. As many things in life, to succeed one must have a solid foundation. When you form a business or entity, advice from an experience attorney is instrumental. Various factors, such as liability, taxation, and management, all depend on the type of business form you choose. In addition, going into any business involves risks, but some are avoidable, or minimized, by choosing the right business form.

At Pratt Aycock, our attorneys work closely with clients to communicate and explain the difference between each business form. We take the time to understand your needs and provide you with options, and laying out the benefits and limitations of each option. Consulting the experienced attorneys at Pratt Aycock can help you avoid patent risks that come with your business. Contact us for additional information about the benefits of retaining our services for your business formation.

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