NY Attorney General seizes first of Trump's properties

[RobDownSouth]

The New York Attorney General's office has initiated the first of probably many seizures of Honest Don Trump's property holdings to satisfy the $464 million financial penalty levied against him.

First property seized was Trump's Seven Springs property in tony Westchester County, NY.
Trump had the property valued at $291 million dollars.
Preliminary estimates have the total value of the property estimated to be in the range of 25 to 50 million dollars.

House of cards begins to topple!

Also in the news, Trump's airplane. Trump's plane is a 35 year old Boeing 757 gas guzzler, which Trump bought off of a real billionaire, Microsoft's Paul Allen, in 2012. The airplane's residual value is perhaps $36 million dollars, and has an estimate 4 or 5 years of useful life on the airframe. It might be longer because the plane sat rusting and unattended at Newark airport for 4 years during Trump's failed presidency.

 

[ishtat]

I thought he had until 25th?

More interesting is that Judge Engoran has re-issued the order to the Trump Organisation Monitor, Barbara Jones, enabling her to prevent any changes of organisational structure or jurisdiction which might remove or transfer assets from the Court's control. This brings the receipt of any cash derived from "Truth Social" under her control and prevents the ownership of Maralago being transferred to Florida (from NY) which had already been proposed. They also have to show her bank statements every month of all individuals and companies subject to the order, and any transaction over $5 million individually or in aggregate has to be ok'd by Jones. The new order is very much stronger and effectively makes Barbara Jones the boss of the Trump organisation for the next 3 years.

 

[RobDownSouth]

Good question Ishtat. Evidently Judge Engeron filed a modified order this week strengthening the government seizure powers after it was discovered that Honest Don Trump somehow transfered $40 million from the Trump Organization to his personal checking account in direct violation of procedures setup by referee Barbara Jones. Jones now controls all monetary transfers into and out of Trump Organization, including the upcoming income from the IPO of Truth Social.

Trump still has four days to come up with the money (heh) but will likely declare personal bankruptcy for the very first time (to go along with his six count 'em six business bankruptcies).

The NY AG office is filing some sort of notice of seizure. Seven Springs is a mansion, often called similar to "Bruce Wayne Manor".
https://www.cnn.com/2024/03/21/poli...uggestions-impractical-and-unjust?cid=ios_app

 

[dmallord]

The New York Attorney General's office has initiated the first of probably many seizures of Honest Don Trump's property holdings to satisfy the $464 million financial penalty levied against him.

First property seized was Trump's Seven Springs property in tony Westchester County, NY.
Trump had the property valued at $291 million dollars.
Preliminary estimates have the total value of the property estimated to be in the range of 25 to 50 million dollars.

House of cards begins to topple!

Also in the news, Trump's airplane. Trump's plane is a 35 year old Boeing 757 gas guzzler, which Trump bought off of a real billionaire, Microsoft's Paul Allen, in 2012. The airplane's residual value is perhaps $36 million dollars, and has an estimate 4 or 5 years of useful life on the airframe. It might be longer because the plane sat rusting and unattended at Newark airport for 4 years during Trump's failed presidency.

She did not seize property. She put out a list of perspective seizures. Trump has until Monday, close of business, to come up with 454m or for the court system to lower the amount if it is so inclined.

 

[BabyBoomer50s]

Just saw a CNN clip featuring one of their experts. The expert said one way Trump could come up with cash would be to sell Mara a Lago. According to the expert, it’s worth “hundreds of millions.” Judge Engoron valued the property at $18 million.

 

[adrina]

https://www.politifact.com/factchec...rk-officials-didnt-value-mar-a-lago-at-18-mi/

Just saw a CNN clip featuring one of their experts. The expert said one way Trump could come up with cash would be to sell Mara a Lago. According to the expert, it’s worth “hundreds of millions.” Judge Engoron valued the property at $18 million.

Palm Beach County assigned the value.

And you wonder why your chops get busted continually.

 

[Rotadom]

https://www.politifact.com/factchec...rk-officials-didnt-value-mar-a-lago-at-18-mi/



Palm Beach County assigned the value.

And you wonder why your chops get busted continually.

babyboomer at breakfast, scouring craigslist for confirmation bias.

 

[Chernosoth]

He could have avoided some annoyances and NY taxes by dumping all NY properties years ago. Maybe he is starting to think of doing that now.

 

[Fuzzy1975]

Just saw a CNN clip featuring one of their experts. The expert said one way Trump could come up with cash would be to sell Mara a Lago. According to the expert, it’s worth “hundreds of millions.” Judge Engoron valued the property at $18 million.

Well I'm pretty sure it's not going to sell for much more than 120-150 million, and that would be when the buyer knows the seller is not "motivated".

 

[Rotadom]

Maybe he is starting to think of doing that now.

He won't do that because he would lose a large piece of his fat ass with every sale.

And if he won, it would turn out terribly for him.

 

[coati]

Gosh, I sure hope the court doesn't do anything more to expose Trump's overvaluation of his properties and fraud. Oh, but I forgot, he and his cult followers have no sense of shame.

Sieze his remaining assets. He will have no use for them when serving on a work crew, raking the forests to prepare for fire season.

 

[RobDownSouth]

Just saw a CNN clip featuring one of their experts. The expert said one way Trump could come up with cash would be to sell Mara a Lago. According to the expert, it’s worth “hundreds of millions.” Judge Engoron valued the property at $18 million.

He purchased Mar-a-Lago in 1985 for 7 million dollars. Even with the spectacular run-up in real estate prices since then, there is no way in hell the property is worth "hundreds of millions".

The tax assessment value for the Mar-a-Lago property for 2020 is 28 million dollars, and I believe that's generous.

Trump himself says the property is worth 1.8 billion dollars. As AJ likes to say "tee hee".

"Hundreds of millions"? Get real.

 

[Rightguide]

He purchased Mar-a-Lago in 1985 for 7 million dollars. Even with the spectacular run-up in real estate prices since then, there is no way in hell the property is worth "hundreds of millions".

The tax assessment value for the Mar-a-Lago property for 2020 is 28 million dollars, and I believe that's generous.

Trump himself says the property is worth 1.8 billion dollars. As AJ likes to say "tee hee".

"Hundreds of millions"? Get real.

As usual you're full of misinformed shit. A simple search for a 17 acre "lot" (Mar-A- Lago is 17 acres) in Palm Beach Florida reveals the following:

In Palm Beach County, Florida, the cost of a 17-acre waterfront lot can vary based on location, proximity to amenities, and other factors. Here are some insights:

1. Average Price: On average, waterfront land in Palm Beach County is priced at approximately $75,077,256 per acre1. Using this estimate, a 17-acre waterfront lot could cost around $1,276,320,352.
2. Specific Listings:
   • While individual listings may vary, there are examples of waterfront properties in the area. For instance, a 5-acre waterfront property is currently listed at $1,295,0002.
   • Considering this, a 17-acre lot might be priced significantly higher, especially if it offers desirable features like direct Intracoastal frontage, marina access, or other amenities.
3. Market Trends: Keep in mind that real estate prices fluctuate based on market conditions, demand, and unique property characteristics. It’s advisable to consult with local real estate professionals to get accurate and up-to-date information on specific listings.

Remember that waterfront properties in Palm Beach County are highly sought after, and their value can be influenced by factors such as views, accessibility, and development potential.

Learn more​

1landsearch.com2redfin.com3waterfront-properties.com4landwatch.com5zillow.com6landwatch.com+2 more

 

[BabyBoomer50s]

https://www.politifact.com/factchec...rk-officials-didnt-value-mar-a-lago-at-18-mi/



Palm Beach County assigned the value.

And you wonder why your chops get busted continually.

I understand that the county assessed the value. Do you understand the difference between market valuation and property tax assessments?

 

[Bray123]

Is not $18 million Trump's own valuation?

Filed for tax purposes?

Surely he wasn't committing fraud on those tax returns that he was so determined not to release? The ones he kept on saying that he would release, just as soon as people stopped investigating him?

 

[BabyBoomer50s]

He purchased Mar-a-Lago in 1985 for 7 million dollars. Even with the spectacular run-up in real estate prices since then, there is no way in hell the property is worth "hundreds of millions".

The tax assessment value for the Mar-a-Lago property for 2020 is 28 million dollars, and I believe that's generous.

Trump himself says the property is worth 1.8 billion dollars. As AJ likes to say "tee hee".

"Hundreds of millions"? Get real.

That was the estimate of the expert CNN brought on. I don’t know the value but I’d bet the property would fetch far more than $18 million.

 

[SmokingFap]

Just saw a CNN clip featuring one of their experts. The expert said one way Trump could come up with cash would be to sell Mara a Lago. According to the expert, it’s worth “hundreds of millions.” Judge Engoron valued the property at $18 million.

Yeah, it MIGHT be worth more than the reported $18 to 27 million if Trump hadn't slapped on a bunch of use restrictions to avoid property taxes and hadn't buried Ivana out back.

 

[BabyBoomer50s]

Well I'm pretty sure it's not going to sell for much more than 120-150 million, and that would be when the buyer knows the seller is not "motivated".

I wouldn’t argue against your guess. That’s more than 5x what the judge determined. He simply used the county assessor’s figure.

 

[BabyBoomer50s]

Yeah, it MIGHT be worth more than the reported $18 to 27 million if Trump hadn't slapped on a bunch of use restrictions to avoid property taxes and hadn't buried Ivana out back.

Some might say Ivana’s dead body represents a property improvement.

 

[Bray123]

Ivana isn't planted at Mar a Stinko, she's at Bedminster, New Jersey.

 

[adrina]

I understand that the county assessed the value. Do you understand the difference between market valuation and property tax assessments?

Apparently you don't. As you falsely stated who valued the property.

 

[BabyBoomer50s]

Is not $18 million Trump's own valuation?

Filed for tax purposes?

Surely he wasn't committing fraud on those tax returns that he was so determined not to release? The ones he kept on saying that he would release, just as soon as people stopped investigating him?

Generally, county assessors don’t rely on the property owner’s estimate, although assessments can be appealed. Appeals can be won if the owner can substantiate the claim.

 

[Rightguide]

That was the estimate of the expert CNN brought on. I don’t know the value but I’d bet the property would fetch far more than $18 million.

You can check my post #13 to see what a simple waterfront lot would cost in Palm Beach.

 

[BabyBoomer50s]

Apparently you don't. As you falsely stated who valued the property.

The judge ruled the property is worth $18 million. He certainly was not bound to accept the tax assessment as a reflection of fair market value. When property is bought or sold, the common practice to have it professionally appraised.

 

[BabyBoomer50s]

You can check my post #13 to see what a simple waterfront lot would cost in Palm Beach.

I’ve looked at recent sales of other properties in the area. Even accounting for the use restrictions attached to the Mar a Lago property, the $18 million figure is clearly far less than market value.