In a well-known case, ReMax North Atlanta v. Clark, 244 Ga. App. 890 (2000), the Georgia Court of Appeals elaborated on the tort of fraud, which has five essential elements. They are as follows:

1. A false representation or omission of a material fact;

2. Scienter – or knowledge;

3. Intention to induce the party claiming fraud to act or refrain from acting;

4. Justifiable reliance; and,

5. Damages

Our Atlanta, Georgia loan modification lawyers realize Mortgage Companies and Banks were not prepared for the economic changes that have occurred in the housing market. Over 3.3 million homes have gone into foreclosure since January of 2008. The Banks simply do not have the employees, time or resources to adequately deal with the number of foreclosures and loan defaults that are occurring. This means long delays in modification deals, never speaking to the same person at the bank twice and general confusion that can lead to losing your home in foreclosure, even if you think that you are negotiating a modification or that you have an agreement concerning you arrearage in place with your lender.

Complicating the situation even further is the fact that most mortgages in Georgia provide that any foreclosure are “non-judicial”. This means that the lender does not have to use the court system to foreclose on your property and sell your house. Instead, they are allowed to send you a notice that they intend to sell your house on the courthouse steps on the first Tuesday of the next month. They also publish this notice in the local paper. Then when four weeks have passed, they auction the house at a sheriff’s sale to the highest bidder.

Fortunately, legal options are available those are facing foreclosure. In Georgia, mortgagors are required to use the utmost good faith in their dealings with you.

Specifically, O.C.G.A. § 23-2-114 provides:

Powers of sale in deeds of trust, mortgages, and other instruments shall be strictly construed and shall be fairly exercised. In the absence of stipulations to the contrary in the instrument, the time, place, and manner of sale shall be that pointed out for public sales. Unless the instrument creating the power specifically provides to the contrary, a personal representative, heir, heirs, legatee, devisee, or successor of the grantee in a mortgage, deed of trust, deed to secure debt, bill of sale to secure debt, or other like instrument, or an assignee thereof, or his personal representative, heir, heirs, legatee, devisee, or successor may exercise any power therein contained; and such powers may so be exercised regardless of whether or not the transfer specifically includes the powers or conveys title to the property described. A power of sale not revocable by death of the grantor or donor may be exercised after his death in the same manner and to the same extent as though the grantor or donor were in life; and it shall not be necessary in the exercise of the power to advertise or sell as the property of the estate of the deceased nor to make any mention of or reference to the death.

The Supreme Court of Georgia has interpreted this statute to mean that a mortgagor must deal with a mortgagee in the utmost good faith, and if they do not, then the mortgagee may have a cause of action against the mortgagor for not acting in good faith. This includes lenders and banks failing to negotiate in good faith with the homeowner regarding payment and when lenders fail to provide the proper notices in foreclosure. If a court determines a foreclosure to have been in violation of these duties, then the foreclosure may be rescinded or the homeowner may be awarded monetary damages.

Oftentimes, Georgia homeowners are devastated when they discover serious home defects months or even years after they have moved into their home. In my practice as a Atlanta, Georgia, new construction defect attorney, I have had many clients come to me who think they are out of luck when they discover a latent defect in their new home.

Thus, the questions arises -- What should homeowners do if they discover latent defects but the homebuilder or seller can not be located or will not correct the problem upon request. The first step is to contact an experienced Atlanta construction lawyer to evaluate your options. I have helped numerous homeowners locate the parties responsible for their home’s defects and obtain just compensation in order to repair the defects and/or compensate them for their home’s diminished value. Determining the identity of the party responsible for losses as the result of latent defects can be challenging.

First, under Georgia law, sellers have a duty to disclose all latent defects that are known and could not be discovered by a diligent inspection of the property. Often latent defects – such as improper installation of roof shingles – are not something that an independent inspector should be expected to locate during an inspection. As a result, if sellers know of the defect, they have the burden of disclosure. If sellers fail to disclose a defect, they may be held responsible for the homeowner’s loss. Types of claims may include fraudulent concealment, fraudulent inducement, misrepresentation, and breach of contract.

Where the construction defect occurs in a newly built home, potential defendants include general contractors, developers, and builders. Sometimes architects and designers may be responsible as well. Additional causes of actions may exist against builders of new homes including negligent construction and breach of express and implied warranties. Under
Georgia’s Right to Repair Act, homeowners must serve notice on contractors at least 90 days before filing a lawsuit. The Right to Repair Act provides allows contractors an opportunity to fix the defect, either fully or partially, settle by monetary payment, or a combination of the two.

However, you may still file a lawsuit if you are not satisfied with a settlement offer, the contractor fails to respond to the notice, or the contractor fails to follow through. An experienced Georgia real estate and construction defect lawyer will ensure you follow the proper steps to preserve your right to file a claim.

Once you contact a dedicated Georgia construction defect attorney, you may be able to recover the costs of repairs and the loss in value to your home as the result of the defect. You may also be able to recover the cost of temporary housing needed while the defect is repaired, the value of the loss of use, court costs, and in some instances, attorney’s fees.
Please contact the Adams Law Offices immediately if you have discovered a latent or other defect in your home. We will find the responsible party and represent you in your endeavor recover the compensation you deserve.

Belkin is part of a partnership bought the Hawks, Thrashers and Phillips Arena operating rights from Turner Broadcasting System in 2004 and shared voting power equally among three subsets of owners. Like many failed business partnerships, the group almost immediately began having disagreements and losing money.

Our Atlanta, Georgia, business partnership lawyers see partnership disputes arise all the time, between partners, shareholders and family members. This is true for all kinds of business and over a wide variety of business matters. Moreover, the poor economy has caused more and more businesses to lose money. As such, business partners are blaming each other for the company’s failure and fighting over the company’s assets and future. As a result, many partnerships all across Georgia and the nation are floundering.

If your business is suffering from internal disputes, disagreements and financial losses, you need an experienced Georgia business partnership dispute lawyer to be on your side and help you determine several issues such as:

• Do you want to sell your company?

• Do you want to retain control over the business?

• Do you want to operate the business yourself?

• Do you want to retain your personnel?

It is crucial you have an experienced Georgia business attorney with you to determine what your options are in the case of a break up. Typical solutions include settlement, buy-out, sale or distribution of the business, and arbitration.

If your partnership or business is failing or if you are in the midst of a partnership dispute, please contact the Adams Law Offices to help you undertake to protect your business interests.

A short sale occurs when the sales proceeds are less that the balance owed on the mortgage. The bank or mortgage lender agrees to accept the short sale and incur a smaller loss rather than waiting for a foreclosure. Sometimes the bank will forgive the remaining loan balance, but this needs to be negotiated and properly documented. Otherwise, the bank may initiate litigation against the homeowner to recover the remaining unpaid loan balance plus costs and attorney’s fees.

A deed in lieu of foreclosure provides another alternative to foreclosure. With a deed in lieu of foreclosure, you give your home to the lender in exchange for the lender agreeing to accept the loan without a foreclosure sale. The lender also should promises not to initiate foreclosure proceedings. In many cases, it is possible to have the lender agree in writing to forgive any deficiency that remains after the house is sold. Forgiveness of any deficiency needs to be negotiated and properly documented much as it would in a short sale.

Short sales and deeds in lieu of foreclosure are considered better for homeowners than a foreclosure. The main reason is that they have less of an adverse affect on a person’s credit report and can dispense with forgiveness of debt. However, they have many pitfalls. As such, it is very important to be represented by counsel when negotiating a short sale or deed in lieu of foreclosure.

Contacting a highly knowledgeable foreclosure attorney when you first start having trouble paying your mortgage can prevent or stop the foreclosure process altogether. Early contact is one of the most important steps you can take to save your home from foreclosure, sale, and the loss of your home.

A Georgia mortgage attorney can ensure that you are taking prudent steps to save your home. Once you have started experiencing delinquent mortgage payment issues, you may receive phone calls and solicitations from supposed “government” or other “type agencies” claiming to be able help you for a fee. An experienced attorney can work on your behalf and ensure that these are legitimate companies have your best financial interests in mind. The fact is, many of these companies are frauds and make a bad financial situation even worse.

Further, an experienced Georgia real estate mortgage attorney can help you work with your lender to renegotiate your mortgage and avoid foreclosure. We have been working with many homeowners across Georgia and understand that banks do not actually want to foreclose on your home – instead they want to minimize their financial losses. This means that the banks may be willing to work with you if there is a chance you may be able to continue paying your mortgage or re-work your loan. Because we understand the real estate market, we can use our experience to negotiate with the bank on your behalf. Often homeowners working alone find it difficult to get past the customer service department to reach a staff member who can actually negotiate with them.

If you simply cannot afford your house any longer, we can help you explore alternatives to foreclosure. Our firm welcomes the opportunity to be of service to you. Please feel free to call our Firm at (404) 467-8611 or toll free at 1-877-412-3267, to discuss your options. You can also send us a message through our confidential Web Site form. The Adams Law Offices is conveniently located in the Buckhead section of Atlanta, Georgia near the intersection of Piedmont and Roswell Roads.

If you are an investor interested in house flipping, you should contact a knowledgeable real estate attorney who can help with all aspects of your real estate transaction. Recently, several house flipping schemes aimed at potential real estate investors have come to light, exposing housing management investment companies and banks working together to defraud potential investors.

In one scheme, a Georgia Bank came under fire after the revelation that one of its co-founders and a chief executive was heavily involved in making fraudulent loans. Through the Bank, chief executive made short-term loans to inner-city investors interested in flipping house in low-income neighborhoods. Because the investors often did not have easy access to loans from traditional banks, the company charged hefty fees and exorbitant interest rates.

Another scheme in involved a European man who enticed flippers – for a substantial fee – with cheap properties and access to expert renovators. He then sent his investors to the Georgia Bank to obtain loans to buy his properties. Allegedly, kickbacks were paid to the loan officers at Georgia Bank who approved the funding. The European man is now in federal custody on charges of fraud. The European Man and the unnamed loan officer made money, but many of the properties were never renovated and the investors lost their money.

These flipping schemes have created additional problems in some of Atlanta’s most needy neighborhoods – with newly flipped homes sitting vacant and attracting criminals and squatters. Although many flipping schemes have come to light over the last several months, The Wall St. Journal reports that home flipping is making a comeback with investors buying up foreclosed properties. These flippers need “cold cash, lots of local-market knowledge and strong nerves.”

The best advice for real estate investors interested in getting involved in the flipping market is to do your homework, be wary of schemes, and be willing to take some risks. Contact a dedicated Georgia real estate fraud attorney who can help you determine if the property you are interested in is suitable for flipping. However, if you believe, you have been a victim of house flipping fraud; please contact The Adams Law Offices immediately to discuss your case.

Many builders claim – and homeowners believe – that Georgia’s mandatory one-year warranty period excuses them from responsibility for defects that are discovered or occur after the one-year period has lapsed. Fortunately, this is not the case.

In most situations, the warranty does not preclude a homeowner from filing a claim against a builder or contractor based on construction defects. In fact, one of the most common ways to be compensated for a construction defect is to file a “breach of contract” action. A breach of contract may occur when a builder fails to construct a home in a “workman-like fashion”. Types of defects include, but are not limited to, the use of substandard building materials, non-compliance with industry standards and incomplete or poorly completed work.

If you discover one of these defects in your home, you may have up to six years, sometimes more, to file a construction defect claim based on breach of contract. O.C.G.A. § 9-3-24. By filing a breach of contract action, you may be able to recover the financial losses you have experienced because of the construction defects in your home and be compensated for any additional costs to repair your home.

The fact that the one-year warranty period has lapsed should not affect your claim. Further, in many cases the warranty will not be applicable if the home is defective from the start. Thus, the existence of a warranty will not bar you from pursuing damages against builders and contractors.

Homeowners need to be wary. Many builders will try to use the warranty as a way to deny responsibility for defects and discourage homeowners who have discovered significant construction defects from contacting an experienced Georgia construction defect attorney. If you believe your Georgia home has construction defects or significant problems, you should have it inspected immediately by an experienced architect or engineer. Further, hiring an experienced Georgia construction lawyer is a critical step in protecting your rights as a homeowner.

Our firm welcomes the opportunity to be of service to you. Please call our Firm at (404) 467-8611 or toll free at 1-877-412-3267, to discuss your options. You can also send us a message through our confidential Web Site form. The Adams Law Offices is conveniently located in the Buckhead section of Atlanta, Georgia near the intersection of Piedmont and Roswell Roads.

Arbitration can be an effective means of dispute resolution, especially for parties who desire a fast resolution on a complex issue. The Official Code of Georgia contains a section laying out the necessary procedures for arbitration in Georgia. This section is generally referred to as the Georgia Arbitration Code, and is located at O.C.G.A. §9-9-1, et seq.

Arbitration, though very similar to the court system, can provide parties involved in business disputes with some unique advantages. First, the parties dictate how they want the arbitration to proceed by designing their own timelines. Unlike the Georgia court system where it typically takes at least a year (or sometimes much longer) for a case to proceed to trial, the parties to an arbitration can schedule a final arbitration hearing within a few months after initiating the arbitration process. This is why many business contracts specify that arbitration is the required form of dispute resolution if a conflict arises. Another advantage to arbitration is that the parties can select an arbitrator who has specialized training or experience in a technical or specialized area of the law. This is in marked contrast to the court system where judges, though generally knowledgeable on the law, may not have any pertinent experience related to a complex business matter, such as construction, intellectual property, or employment. When parties use the court system, it is also important to note that they have no say in which judge is ultimately appointed to oversee their cases, while in arbitration, the parties typically collaborate in choosing a specific arbitrator.

Whether you may be involved in a Georgia business litigation case or are presently engaged in an ongoing business dispute, our Atlanta business lawyers would welcome the opportunity to evaluate your situation and advise you of your options.

Our Firm would welcome the opportunity to assist you concerning your business litigation and dispute needs. Please feel free to contact us (404) 467-8611 or 1-877-412-3267 to discuss your options. Please also feel free to send us a confidential e-mail through our Web Site “Contact Us” form. The Adams Law Offices has its main Atlanta, Georgia office conveniently located in the heart of Buckhead near the intersection of Roswell and Piedmont roads. Our Firm represents clients throughout the Metro Atlanta area, Georgia, and the United States.

“Phantom income” occurs most frequently in Subchapter S corporations and limited liability companies (LLCs), which are presently the most common and popular business entity forms for doing business in Georgia. This is especially true in small businesses owned by taxpayers who may not be aware how “phantom income” can be incurred or what “phantom income” is.

“Phantom income” occurs when Subchapter S corporations and LLCs are taxed. The income in these business entities is passed to the owners whether or not cash is actually distributed to the owners. Moreover, if a business makes a profit, at least for tax purposes, but the business owner(s) keeps most of the money in the business as so often is the case (especially in small businesses), then a “phantom income” scenario can result.

For example, suppose your business has a tax profit of $100,000, but you only distribute $10,000 because you need the rest of the money in the business to keep operating the business. However, you are taxed on $100,000 even though you only received $10,000. This is one instance where you have been the unknowing casualty of “phantom income.”

Thus, the question arises: How do you avoid phantom income? The answer is the proper drafting and prudent use of a well-crafted operating agreement.

A final word of caution is as follows: Be sure the majority owner’s typical right to amend the business operating documents excludes the right to amend the minimum distribution clause. Otherwise, “phantom income” may reappear.

Atlanta tax attorneys and Atlanta business attorneys should take great care not to place their clients in a “phantom income” situation. This is why you must choose Atlanta tax attorneys or Atlanta business attorneys who understand the complexity creating operating agreements for Subchapter S corporations and limited liability companies (LLCs). Our Firm assists clients in creating operating agreements that will protect the interests of the business owners while not creating unnecessary and troublesome tax complications and liability for any of the business owner(s). Our Firm can also assist you in any “phantom income” situation in which you may find yourself. We will work closely with you to find a resolution to any “phantom income” state of affairs in which you may find yourself. Our Atlanta business lawyers and Atlanta tax lawyers and experts will work closely with you on these matters. We can assist you in negotiating a resolution to your “phantom income” tax problems with your business partners, find a way to assist you in dealing with the IRS or Georgia Department of Revenue and take measures on your behalf so a “phantom income” tax situation does not reoccur.

The Adams Law Offices strives to be at the top of the Georgia business and tax law firms and prides itself on cost-efficient and cost-effective legal representation. Our Firm can advise, assist, and protect you and your business as well as minimize your liability for tax purposes. We would welcome the opportunity to assist you with your tax and business matters. Please feel free to call our Firm at (404) 467-8611 or 1-877-412-3267, to discuss your options. You can also send us a message through our confidential Web Site Form. Our Firm is conveniently located in the Buckhead section of Atlanta, Georgia, near the intersection of Piedmont and Roswell Roads.

The Georgia Legislature has recently made subtle but significant changes to the lien laws in Georgia. These changes state when and how a lien must be filed, how it can be removed, and how the lien may be enforced.

Several years ago, the law was changed to state that only attorneys may file liens. However, even Georgia real estate and construction attorneys may not be familiar with these changes and the various statutory requirements and “hoops” one must “jump through” to have a valid lien on file in the property records. Consequently, it is very important to consult Atlanta Construction Lawyers very familiar with lien laws in general, and the new changes in particular, if you are a contractor, subcontractor, or supplier looking to protect your rights, or if you are a property owner looking to challenge a lien.

In this ever-changing real estate and construction market, it is increasingly important to protect your hard work and your real property investment. This is why you must choose Atlanta real estate, construction, and business attorneys who understand the complexity of these revised lien laws and who can advise you on how to protect your business, your hard work, as well as your investment.

The Adams Law Offices has been at the forefront of the revised lien laws and the new Georgia construction arbitration statutes as they relate to contractors, builders, and homeowners alike. Our Firm of Atlanta construction attorneys specialize in liens, the “Right to Repair Act,” the new Georgia construction arbitration statutes, procedures and laws.

The Adams Law Offices is conveniently located in the Buckhead section of Atlanta, Georgia, near the intersection of Piedmont and Roswell Roads. Our Firm assists clients throughout the Metro Atlanta area, Georgia, and the US States:

On top of the legitimate “deals gone bad” amongst Atlanta, Georgia business deals and relationships, the perceptions of doing business in the Metro Atlanta area have also changed. Business persons of all sorts have become ever increasingly apprehensive and even mistrustful of many business dealings with otherwise close partners, acquaintances, and colleagues.

In these ever-changing economic times, one premise of business relationships has become abundantly clear. It is as follows: Look out for number one and be wary, skeptical, and guarded of all others! In fact, deals that would have otherwise have been done on a handshake; now need top-level scrutiny by experienced and sophisticated Atlanta business attorneys.

If you feel you are in a vulnerable situation as to your business relations or you may suffer damages because of the business dealings of others, or you just want to make sure you are protected in these troubled ruthless times, you should contact one of our Atlanta business lawyers to evaluate your situation and advise you accordingly. The Adams Law Offices assists individuals, businesses, and entrepreneurs in Atlanta business litigation claims, business transactions, and protection of businesses and their corresponding individuals.

The Adams Law Offices has its main Atlanta office conveniently located in the heart of Buckhead near the intersection of Roswell and Piedmont roads. Our Firm assists clients throughout the Metro Atlanta area, Georgia, and the United States. Some of these areas include the following cities, communities, counties and US States.