Sorry, I wasn’t clear. I was referring to the appeal court’s decision to give Trump more time to fill a lower bond. When the trial court rules that no compliant bond has actually been filed, and then Trump appeals that, the appeals court will not be favorable given how Trump wasted the courts’ time.
It’s a classic fuck-around and find out–the court showed exceptional mercy and Trump pissed it away.
Ah, agreed. THAT appeal will be met with howls of amused derision I hope.
That’s fun to imagine, but it raises a question for me. Let’s say Letitia James seizes the property and credits $1.4M towards the America-hating fuckstick’s $454M judgement. Once the ownership transfer is completed, is there any obstacle to her selling it on the open market for $15M and not crediting the extra $13.6M to the A-HFS’s debt?
Of course it takes lawsuits. That’s what we just had. The case that Letitia James led was the lawsuit to seize real property from Trump. And of course Trump is trying to put up a fight. He’s just really, really bad at it.
She’s never going to see $454 million from Trump, because he doesn’t have that. But she’s going to take everything he does have in the process of trying.
that’s why I suggested just making it into a park. No selling on the open market. Just value it at exactly what Trump himself valued it for.
If she turned it into a park and five years later (frex), sells it as prime real estate, it would be schadenfreudelicious.
(“frex” being an abbreviation of “for example.”)
Trump’s valuations will carry zero weight, I’d imagine, especially given the fact that the whole mess is the result of his fraudulent representations. I’d be surprised if it doesn’t just follow the normal valuation methods, whatever they are.
That’s not how it works and it’s not how any of us wants that to work. The amount credited against Trump’s debt will be whatever the state sells the property for. If they happen to sell it for $15 million dollars, then that’s $15 million Trump no longer owes.
NM, misread the question and Odesio answered it above me.
‘k thx.
Doesn’t it depend on how long the State of New York owns the property?
Suppose they seize a property that’s tied up with other owners having rights and maybe other issues. State of New York claims it’s worth $1.4 million, and subtracts that from the $454M judgment. Presumably, New York State makes some money (perhaps in the form of leases) from the property.
Twenty-five years later, the property becomes unencumbered to the point where it can be sold. Property is sold for $15 million. I don’t think they’d have to return $13.6 million to Trump’s estate – just as if they credited the property at $15 million when it was seized and later sold it for $1.4 million, they couldn’t go after Trump’s heirs to get the $13.6 million shortfall.
I have no idea what the length of time should be, but there must be a time at which fluctuations in the value are deemed to be due to market changes and not issues with the original valuation.
That’s why I suggest (for the golf course) no sale take place. Trump says it’s worth 1.4 million. So take the golf course and credit him 1.4 million. Put a restrictive covenant on the land that says it is a public park, to be used for the enjoyment of the public, with no access fees, until the last living decedent of King Charles III is dead.
So, will you give the same weight to Trump’s assertion that Mar-a-Lago is worth in excess of $1B?
Nah, again take the value he told to the government for tax purposes. He didn’t lie to the government, did he?
No, those are just words that came out of his pie hole.
Mar-a-lago is valued by the local government for tax purposes at a “taxable value” of $33.34 million. So that’s what would be knocked off Trump’s amount owing, and then Mar-a-lago would be also turned into a park, to be used for the enjoyment of the public with no access fees.
What did the government value his golf course? Seriously, I don’t know.
In the case of a property in which Trump is partners with another, non-liable, entity, can the state assume his partnership interest and then sell its new interest?
Every partnership agreement worth its salt has provisions for partners leaving the partnership. It would be complicated but that’s why people who can work it out make big bucks; it’s not impossible IOW.
A post was merged into an existing topic: How Can Truth Social be worth $6 Billion?
Hard to find the actual details, but it would appear that in 2021, after much arguing (in which Trump lowballed the value of Westchester Golf course), the town board finally settled with the Trump org on a value between 9.75 and 11 million for tax purposes.
Of course in a subsequent financial disclosure form for 2021, Trump listed the value of his Westchester Trump National Golf Club property at “over” $50 million.
But I think James could take Westchester for a park, and credit Trump with 11 million against his judgement.
Alternatively, she could have concrete blocks placed over the entrance, chain the clubhouse doors shut, and have an auction to sell it to the highest bidder.
Either one works for me.
I will shed no tears over anything that creates financial pain for Trump, believe me. But as amusing as it is to daydream over the best way to make him suffer consequences, I’m afraid there will be textbook methods that will be followed.
Regardless, we can still stand on the sidelines doing our best Nelson Muntz “Haw! Haw!” however it’s accomplished.