Terry L. Thornton
Shareholder
1601 Elm Street, Suite 4600
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Terry Thornton has been actively involved in real estate transactional practice for more than 20 years and is board certified in commercial real estate law. She has significant experience in negotiating, drafting, closing and funding of both commercial and complex residential real estate transactions from the standpoint of each of the seller, buyer, developer or lender. In addition, she has an extensive practice in forming and assisting owners' associations and planned unit development regimes, both residential and commercial, as well as negotiating and drafting lease documents. Further, she spends a part of her practice on general business issues such as sales, acquisitions, mergers, financing and entity formation.
Area of Practice
Industry Experience
Recent News
Representative Experience
Negotiating, drafting, and closing significant commercial transactions from both buyer and seller standpoint, leases, sales-leasebacks, ground leases, contracts for deed, subleases, condominium regime set-ups, shopping center development, prime tenant leases (including theatres, restaurants and other specialty stores, involving both single-tenant and multi-tenant operations), option contracts and deferred exchanges.
Negotiating, drafting and closing all types of residential sales from buyer, builder and seller standpoints, long term and temporary leases, contracts for deed, condominium and townhome transactions, creating and assisting planned unit developments¡ In addition, substantial experience in representing REALTORS and licensees with regard to claims, deceptive trade practice act issues, breach of contracts, commission disputes, state and local board complaints, and internal brokerage issues.
Representation of financial institutions in negotiating and consummating various loan facilities for commercial financing; representation of borrowers on substantial credit facilities with various syndicated lenders and private investors; drafting and review of complex credit agreements, term and revolving notes, deeds of trust (recourse, non-recourse and partial recourse), security agreements, guaranties, pledges, and lease and rent assignments.
Further experience in conducting residential and commercial foreclosures on real property and personal property, lock-outs, work-outs, modifications, collateral exchanges, forcible entry and detainer actions, property management issues, temporary "hometender" issues, and lease termination/default issues.
Comprehensive experience in forming and maintaining corporations, limited liability companies, limited partnerships, general partnerships, professional corporations, including drafting necessary formative documents with protective provisions, buy-sell agreements and options.
In addition, in depth familiarity with purchases and sales of existing business and professions, buy-outs, mergers, stock and asset sales, exchanges, dissolutions, and restructures
Professional Activities, Memberships & Affiliations
State Bar of Texas: Real Estate and Trust Section, Animal Law Section.
Equest Therapeutic Horsemanship, Volunteer and leader.
Golden Retriever Club of America, Vice President, 2002 to present.
Publications & Speeches
The Nuts and Bolts of Commercial Real Estate Contracts, presented to the State Bar Summer School Institute, Galveston, Texas, June 2003.
Education
1979 - B.J., The University of Texas at Austin
1982 - J.D., Southern Methodist University Dedman School of Law
