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Knowing about the Probate and Will Process, Real Estate Law, and Corporate Law Probate is all about establishing proof of the authenticity of your will in court and, at the same time, the process also ascertains that your assets are correctly distributed to your heirs and creditors, if any, in which case most probate proceedings are slow and expensive to undertake; however, if your will is appropriately executed and up-to-date, then the process is likely to be finished on a faster rate and with less expense. 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. If you still have creditors and you have included them in your will, one of the benefits of probate is that the amount of time which your creditors will be collecting from your estate will be reduced to juts about four months instead of a year’s processing of unpaid debts. Real estate law is a process of presiding over who may own and use the land and the buildings in it, and in its proceedings, the process will have to include the following: identifying if the real estate property is residential or commercial and if owned by one person, a conjugal ownership or corporate and whether it is used by the owners or rented; and ascertaining if the purchase of the land was properly transacted and documented, which involves ownership of the land, whether owned solely, corporate or pass between family members through estate planning. Furthermore, concerns such as compliance to the local zoning laws and environmental protection are also addressed in the proceedings of real estate law.
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When the rights, relations, and conduct of persons and businesses, who are engaged in commerce, merchandising, trade, and sales, are being presented through legal proceedings, the component of law that is being applied to is referred to as commercial law, which can also be called business law or corporate law. Commercial law has a wide range of application, such that it covers the following: 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. At the same time, commercial law may also be employed to regulate corporate contracts, hiring practices, and the manufacture and sales of consumer goods.
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Before the creation of the Uniform Commercial Code (UCC), the administration of commercial law in each state was found to have conflicting interests from state to state, which resulted into a disruption of the flow of interstate commerce, thus, the UCC was provided for by a non-governmental body to standardize the statutes that are dealing with commercial, which allows each state is adopt.