Not all second homes are private property necessarily. If you work out of it then it’s personal property, like if you’re using it as a vacation rental and doing all the cleaning and maintenance yourself. If you hire someone else to do the work for you then it becomes private property. My preferred way of explaining the distinction is that private property is akin to absentee ownership, while personal property is stuff that is in active use by you personally.
if you’re using it as a vacation rental and doing all the cleaning and maintenance yourself. If you hire someone else to do the work for you then it becomes private property
Do you guys even listen to yourself? This makes zero sense.
Not all second homes are private property necessarily. If you work out of it then it’s personal property, like if you’re using it as a vacation rental and doing all the cleaning and maintenance yourself. If you hire someone else to do the work for you then it becomes private property. My preferred way of explaining the distinction is that private property is akin to absentee ownership, while personal property is stuff that is in active use by you personally.
Do you guys even listen to yourself? This makes zero sense.
How can I better explain it to you in a way you will understand?