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There are 2 types of custody: legal custody and physical custody. Legal custody pertains to a parent's rights to make decisions in the child's life. Physical custody is sometimes referred to as residential custody.
Residential custody may be either primary residential custody or shared residential custody
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The papers state "that the possession and custody of the children be shared by the parties and that Petitioner be named resident custodian. Also the papers state that children may not be taken out of current school district until the end of their senior year in high school.. Is there any concern for the Petitioner to have "resident custodian"?
Having one parent appointed the resident custodian is the more prevalent method of custody. In this situation the parent would reside with the resident custodian all the times except during the noncustodial parent's parenting time
The other method-- shared residential custody -- is less likely used. It basically means each parent has equal or substantially equal parenting time and the child rotates residences
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