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The Law Office of Stephen Nault

Articles

Notes from the practice.

Short, practical writing on commercial leasing, TREC matters, real estate disputes, and the industry issues that sit underneath them.

Featured · Business Formation

Raising Private Investor Money Through an LLC

Selling a stake in your LLC to passive investors is usually a securities transaction, even in a small company. Here's the plain-language version of what that means — exemptions, filings, and the documents that protect both founders and investors.

June 2026·10 min read

Real Estate Disputes

Partition Actions in Tennessee — and What the Heirs Property Act Changed

If you own property with someone else and can no longer agree on what to do with it, either of you can force the issue through a partition action. Here is how partition works in Tennessee, and the significant change the legislature made in 2022 for inherited family land.

June 2026·6 min read

Brokerage Risk

When a Broker Complaint Turns Into a Records Problem

In most Tennessee broker complaints I review, the fight has stopped being about the allegation and become about the file — what the transaction records, disclosures, communications, and money trail can actually prove.

April 2026·9 min read

Brokerage Risk

Commission Disputes That Carry More Than Money Risk

A commission dispute can look like a simple fight over who gets paid. In my experience the harder ones sit inside a larger problem — agency documents, disclosure, authority, and how the transaction was actually run.

April 2026·8 min read

Brokerage Risk

When a Transaction Complaint May Also Create Civil Exposure

The same set of facts in a Tennessee real-estate dispute can open two doors at once: a regulatory complaint and a private civil claim. They run on different tracks, and I have watched people assume the two move together when they do not.

April 2026·9 min read

Owner Disputes

Deadlock in a Closely Held Business: Decision Points Before Escalation

Real deadlock in an LLC rarely announces itself. Long before anything collapses in the open, I see it in stalled approvals, fights over the bank account and the records, and conflicting claims about who actually holds authority.

March 2026·8 min read

Owner Disputes

When the Operating Agreement No Longer Matches Reality

A lot of the owner disputes that cross my desk start the same way: the operating agreement says one thing, and the business has drifted into something else. That gap becomes a control and proof problem long before anyone files anything.

March 2026·8 min read

Owner Disputes

Books, Records, and Account Access: Early Control Red Flags

When an owner suddenly cannot get to the books, it gets written off as a bookkeeping headache. I treat it as an early control problem — about status, authority, and who gets to define the company's own record.

March 2026·8 min read

Brokerage Risk

Early Mistakes That Make a Brokerage Complaint Worse

Most brokerage complaints are helped or hurt long before anyone reaches the merits — by how the documentation is handled, what the parties expect, and whether they understand what the regulatory process can actually do.

February 2026·8 min read

Commercial Leasing

What to Do When a Commercial Lease Default Notice Arrives

A default notice on a commercial lease can move several things at once — cure rights, termination risk, guaranty exposure, and the damages argument later. The first question I ask is the one people tend to skip: what does the lease actually say?

February 2026·7 min read

Commercial Leasing

Five Commercial Lease Terms Worth Slowing Down For

Most lease fights I am brought into trace back to a few provisions the business team moved past too quickly — the exact terms that end up controlling the leverage later.

January 2026·6 min read

Brokerage Risk

What to Do First After a TREC Complaint Arrives

The first mistake after a TREC complaint lands is the rush to respond — before the record, the timeline, and the real business risk have been organized.

January 2026·6 min read

Brokerage Risk

What the Tennessee Real Estate Commission Can and Cannot Do

A TREC complaint is not a lawsuit, and confusing the two leads people to the wrong strategy. Knowing what the Commission can and cannot do is the first step to classifying the problem correctly.

December 2025·8 min read

Owner Disputes

Owner Dispute Warning Signs Before the Business Stalls

Owner disputes almost always send up warning signs before the business actually stalls. The hard part is reading them early enough to do something useful about them.

December 2025·6 min read

Strategic Case Assessment

What Investigate and Advise Looks Like Before Suit

Not every serious dispute should run straight to a demand letter. Often the most valuable work I do comes first — figuring out what actually matters, who is really involved, and what the next move needs to accomplish.

November 2025·7 min read