Grandfather clause
A provision letting existing operators continue under old rules after a regulation changes.
Whether a market grandfathers existing STRs is a decisive question for investors, because it determines if a new ban wipes out a business or protects incumbents. Grandfathered status is frequently non-transferable when a property is sold.
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Informational only — not legal, tax, or financial advice. Definitions are general; exact meanings vary by jurisdiction.