A legal entity designed to hold ownership of a vacation rental property, offering potential liability protection and tax advantages to the owner.
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Glossary Term: Legal Entity
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The legal and financial framework under which a short-term rental property is owned, such as sole proprietorship, partnership, or LLC.
A legal entity designed to hold and protect assets, like short-term rental properties, from potential liabilities and creditors. This can be particularly beneficial for hosts with multiple properties.