AB 992

Bill Subjects

Voidable Transactions Choice Of Law Remedies

Abstract

Existing law, the Uniform Voidable Transactions Act, generally establishes the conditions under which a transfer made or obligation incurred by a debtor is voidable as to a creditor, and sets forth the remedies of a creditor with respect to a voidable transfer or obligation. Existing law specifies that a covered claim is governed by the local law of the jurisdiction in which the debtor is located when the transfer is made or the obligation is incurred. Existing law specifies, for purposes of these provisions, that a debtor's location, if the debtor is an individual, is the individual's principal residence. This bill would instead provide that a debtor's location, if the debtor is an individual, is the debtor's principal residence or domicile.