Plain English Breakdown
The official summary uses 'or' to connect principal residence and domicile but does not specify if one takes precedence over the other.
AB-1473: Updating How Individual Debtor Location Is Defined for Voidable Transactions
This law changes the rule that decides which state's laws apply to voidable transactions by allowing a debtor's location to be defined as either their principal residence or domicile.
What This Bill Does
- Changes how existing law defines where an individual debtor is located for legal purposes.
Who It Names or Affects
- Individuals who owe money and are considered debtors under the Uniform Voidable Transactions Act.
Limits and Unknowns
- This change only applies to individual debtors, not businesses or other entities.
- The official text does not explain how courts should choose between 'principal residence' and 'domicile' if they are in different places.