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Definition
Residence refers to a specific place where an individual or entity lives or operates. It can include a personal residence where someone lives, or a business residence where a company operates its activities. This aspect is important for several legal analyses (e.g., personal jurisdiction, bankruptcy law, tax law). Residence refers to a person's fixed, permanent, and principal home, often with legal implications and the intention to remain for an extended period, in contrast to "occupancy," which refers to the physical act of living in or using a property, which can be temporary or intermittent,
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Additional Information
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