Effective Legal Solutions
Focused legal expertise in real estate, business, banking, estate planning, and tax-deferred exchanges.
At Walt Fair, PLLC, our attorneys focus on select areas of the law. Because we do not attempt to provide legal services in every area, we deliver the highest level of competence and legal representation in a responsive, expert, and personal manner. Our firm has earned an “AV Preeminent” rating from Martindale-Hubbell – the highest rating available – recognizing Walt Fair among the top 5% of attorneys nationwide for legal ability and professional ethics.
We are lifelong residents of the Waco area with an intimate knowledge of local culture and close relationships with community leaders and members of the judiciary and local bar.
Real Estate Law
With more than 40 years of experience, Walt Fair, PLLC has an extensive and sophisticated real estate practice covering all areas of real estate law. Our lawyers represent individuals, real estate investors, land developers, construction companies, title companies, and management companies in a variety of real estate matters.
Because Walt Fair, PLLC is also a title company, we have the added ability to assist and represent buyers and sellers throughout the closing process.
Our real estate attorneys assist clients with:
- Purchases and sales
- Construction and development
- Foreclosure
- Title examination and opinions
- Mechanic's lien filings and perfection to judgment
- Property management counsel
- Restaurant and retail projects
- Easements
- IRC Section 1031 Exchanges
- Lease negotiation, forcible entry and detainer, and lockout
Corporate and Business Law
Walt Fair, PLLC represents business owners and organizations of all sizes, including sole proprietorships, partnerships, limited liability companies, corporations, and nonprofit entities. Drawing on experience as both legal counsel and business operators, the firm provides practical guidance to help clients make informed decisions at every stage of a company’s development.
Entity Formation
and Selection
Selecting the right business entity affects operations, tax treatment, and personal liability. Walt Fair, PLLC advises clients on entity selection and handles the full range of formation services, including:
- Counsel on entity selection
- Formation of traditional and series LLCs, corporations, and partnerships
- Drafting company agreements, partnership agreements, and bylaws
- Assistance with financing matters
- Ongoing outside general counsel support
Business Transactions and Governance
The firm also assists clients with planning and managing business transactions, from routine contracts to more complex matters. Services include:
- Purchase and sale agreements
- Acquisition or sale of business entities
- Structuring financial transactions
- Ownership structure and governance issues
- Commercial lease agreements
Whether forming a new venture, managing ongoing operations, or navigating a significant transaction, Walt Fair, PLLC provides focused legal support tailored to the client’s goals.
To discuss your business matter, “Contact” the firm or call us at (254) 772-6400.
Banking and Finance Law
Walt Fair, PLLC has represented numerous local and regional financial institutions for more than 40 years. With deep roots in the Waco community, the firm understands the practical and legal considerations involved in residential and commercial lending, as well as the proper documentation of secured transactions.
The firm’s attorneys assist financial institutions with a wide range of matters, including:
- Loan documentation
- Title examination and preparation of title searches for smaller credits
- Title examination and formal opinions of title for larger credits
- Foreclosures
- Workouts
- Collections
- Uniform Commercial Code issues, lien priority, and regulatory compliance
Attorney-Owned Title Advantage
Because Walt Fair, PLLC is also an attorney-owned title company, the firm can represent lender interests throughout the transaction and settlement process, providing coordinated legal and title support.
To discuss a banking or finance matter, “Contact” the firm or call us at (254) 772-6400.
Estate Planning and Probate
Walt Fair, PLLC assists individuals, families, and small business owners with estate planning and probate matters. The firm provides practical legal guidance across all stages of the planning and administration process.
Services include:
- Wills, powers of attorney, and healthcare directives
- Trusts and trust administration
- Asset protection planning
- Business succession planning
- Marital property planning
- Probate and estate administration
Effective estate planning helps minimize tax obligations, protect assets, and create a clear process for the orderly transfer of property. Proper documentation also establishes financial and healthcare directives in the event of incapacity, reducing uncertainty for family members.
Having a well-structured plan in place can significantly simplify matters for loved ones during an already difficult time and help avoid unnecessary delay or expense in the probate process.
To discuss an estate planning or probate matter, “Contact” the firm or call us at (254) 772-6400.
1031 Exchange
Walt Fair, PLLC and its affiliate, Central Escrow Services, serve as Qualified Intermediary for IRC Section 1031 like-kind exchanges. The firm provides the legal knowledge, transactional experience, and secure handling of exchange proceeds required for these transactions.
A properly structured 1031 exchange allows real estate investors to defer capital gains tax on the sale of investment property when the proceeds are reinvested in qualifying replacement property. This deferral has been available under the tax code since 1921 and remains one of the most significant tax planning tools for real estate investors.
Key Timing Requirements
- The investor must identify potential replacement properties within 45 days after closing on the relinquished property.
- The purchase of the replacement property must be completed within 180 days of the sale of the relinquished property (or the investor’s tax return due date, if earlier).
To qualify for tax deferral, the exchange must strictly follow IRS requirements. Among the most important is the use of a Qualified Intermediary to hold the sale proceeds; the investor cannot take actual or constructive receipt of the funds.
Walt Fair, PLLC and Central Escrow Services manage the exchange process from the sale of the relinquished property through the acquisition of the replacement property, helping ensure compliance with applicable rules.
To discuss a 1031 exchange, “Contact” the firm or call us at (254) 772-6400.