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Knowing about the Probate and Will Process, Real Estate Law, and Corporate Law Probate is a court proceeding, which is being undertaken, to establish proof that your will is unquestionably a genuine will and to ensure that your assets are properly distributed to your heirs and creditors, such that this process may take a while to verify, but as long as you have a properly executed and up-to-date will, the process can be fast and less expensive. The probate process also requires your appointed representative to comply with set deadlines for him/her to inform your beneficiaries and creditors of your death, as well as for him/her to process the transfer of your assets to your beneficiaries and creditors. One particular benefit that can come out of probate is with regards to the time allowed for creditors to collect from your estate, which is just about four months, instead of a year. The process of determining and administering over who may own and use the land and the buildings in it is referred to as real estate law, and in its guided process, the following course of action is included: determining if the real property is residential or commercial, as well as the type of ownership, whether sole, conjugal, or corporate, and determining how the real estate property is used, rented or personal, at the same time, ascertaining if the purchase of the land was properly transacted and documented, including ownership of the land, , whether owned solely, corporate or pass between family members through estate planning. In addition, real estate law also presides over determining how the real estate property was used, whether the local zoning laws were complied and whether the landowners took care of their surrounding environment.
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Commercial law or otherwise known as business law or corporate law is a legal process that presides over the rights, relations, and conduct of persons and businesses, who are engaged in commerce, merchandising, trade, and sales. The application of commercial law covers a wide range of concentration, such as: principal and agent, carriage by land and sea, merchant shipping, guarantee, marine, fire, life, and accident insurance, bills of exchange/negotiable instruments/contracts and partnership. Commercial law may also be applied in regulating corporate contracts, hiring practices, and the manufacture and sales of consumer goods.
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Because of the varying interpretations and administration of statutes of commercial law in each state, this resulted into conflicting interests, which were indirectly causing a disruption on interstate commerce; therefore, a non-governmental body took the initiative of establishing the Uniform Commercial Code (UCC) to remedy the situation, and which established a standardized set of statutes dealing with commercial law, of which each state is free to adopt and use.