NY Attorney General seizes first of Trump's properties

[jaF0]

If he signed off in the wake of his indictment (or even after the crime) there is likely legal recourse. I hope to see the Trumps lose that compound

I read this a few years ago. I'm sure the Trumps have spent more than the time allowed at Maga Lago

So which is it?

 

[BabyBoomer50s]

Trump signed off - in perpetuity - on valuating Mar a Lago as a residence. He is not a victim of some paperwork shenanigans. This was at his doing and behest.

Wrong. Even though the Trumps live in luxury at Mar a Lago with its golf course and incredible amenities, it is not assessed by the county as a residence. If it were, his property taxes might be higher than they are. Trump signed a deed of conservation and preservation easement in 1996, meaning he ceded the right to use the property for anything other than a social club. Because of that, the county assessor uses an income approach to assess the value.

It’s not difficult to understand why even those who suffer from TDS believe the market value of the property likely far exceeds the $18-27 million figure used by the county assessor for property tax purposes. Letitia James has been quoted as saying “closer to $75 million.” Fuzzy says $120 to 150 million. CNN’s expert guest said “hundreds of millions.”

 

[dmallord]

The county assessor, not Trump, valued it at $27 million in 2020 using an income approach. A broker representing Trump checked the box agreeing with the assessment for property tax purposes. It would have been foolish to argue for a higher assessment. That not imply Trump believed Mar a Lago was only worth $27 million, nor does it imply that lenders should apply the same methodology or be bound by that same figure. Loan applicants and lenders are not bound by their acceptance of tax assessments.

The assessor used one approach and came up with a number for property tax purposes. Trump claimed a much higher number on loan applications, and his lenders did their own due diligence and reached their own conclusions. It is not unusual, unlawful, or fraudulent.

Really? He checked the box, did he? The broker isn't on the hook for the false claim is he? Just Trump.

The NY court case against Trump says it is unusual, unlawful, and fraudulent to value something over 1,000% higher than actual value. Trump is scurrying around to find 454m to prove otherwise. Talk about due diligence; reaching a fraudulent level was his hubris. 'The Art of Steal' didn't have a chapter on how to deal with this.

 

[adrina]

Wrong. Even though the Trumps live in luxury at Mar a Lago with its golf course and incredible amenities, it is not assessed by the county as a residence. If it were, his property taxes might be higher than they are. Trump signed a deed of conservation and preservation easement in 1996, meaning he ceded the right to use the property for anything other than a social club. Because of that, the county assessor uses an income approach to assess the value.

It’s not difficult to understand why even those who suffer from TDS believe the market value of the property likely far exceeds the $18-27 million figure used by the county assessor for property tax purposes. Letitia James has been quoted as saying “closer to $75 million.” Fuzzy says $120 to 150 million. CNN’s expert guest said “hundreds of millions.”

You misread. Especially if you read anything I wrote from that point forward. My meaning, obviously unclear to you, was that Mar a Lago cannot be and is not a residence. In perpetuity. It is a club/resort - a business.

The rest of your post is the usual bullshit trying to talk yourself into being right. You have spent the thread arguing that the judge valued the property when it was the county assessor - who did so at Trump's request, to list MAL as a club instead of a residence to save himself money.

Just take the L, suck up.

 

[Ciceri]

So which is it?

What's the question?

 

[dmallord]

Yes. The Trumps use it as a residence. But pay for it and paid for it as a resort/club.

And just for the people in the back: this agreement was made "in perpetuity".

After a bit of digging, sometime back in another thread, I posted info that said the town council came to an agreement about him having domicile rights. Apparently, if he is an 'employee of the club,' he has the 'privilege' to maintain a residence full-time. At first, he was considered a guest, but then he claimed management rights. Members may only stay a short duration at the club—as guests.

Clearly, Trump doesn't manage the place but who argues with a bully?

 

[BabyBoomer50s]

Really? He checked the box, did he? The broker isn't on the hook for the false claim is he? Just Trump.

The NY court case against Trump says it is unusual, unlawful, and fraudulent to value something over 1,000% higher than actual value. Trump is scurrying around to find 454m to prove otherwise. Talk about due diligence; reaching a fraudulent level was his hubris. 'The Art of Steal' didn't have a chapter on how to deal with this.

You’re not grasping the fact that assessed value for property taxes is not the gold standard for market valuation. Real estate brokers don’t rely on assessed value when determining valuation. Agreeing with the property tax assessment does not bind one to pledging that figure as representative of market value.

 

[BabyBoomer50s]

You misread.

Your words: “Trump signed off - in perpetuity - on valuating Mar a Lago as a residence.”

 

[BabyBoomer50s]

Here’s the CNN clip I was referring to in my earlier post today that sparked so much outrage among the TDS community.

https://twitter.com/x/status/1771000871330980155

 

[Lazaran]

Your words: “Trump signed off - in perpetuity - on valuating Mar a Lago as a residence.”

Everyone knew exactly what Adrina was saying except BabyBoobs.



BabyBoobs wanted a W sooooo bad, but ended up taking another L.



BabyBoobs

 

[BabyBoomer50s]

Everyone knew exactly what Adrina was saying except Adrina.

yes.

 

[Lazaran]

yes.

BabyBoobs takes another L.

Poor BabyBoobs.



BabyBoobs

 

[BabyBoomer50s]

BabyBoobs takes another L.

Poor BabyBoobs.



BabyBoobs

Helping a damsel in distress is very noble of you.

 

[dmallord]

You’re not grasping the fact that assessed value for property taxes is not the gold standard for market valuation. Real estate brokers don’t rely on assessed value when determining valuation. Agreeing with the property tax assessment does not bind one to pledging that figure as representative of market value.

I do understand property assessment. For a number of years, I was a Realtor. I gave up my broker license and stuck with other real property investor roles.

Cities and municipalities set values on properties as close to market value as possible when legislative rules do not preclude them; e.g., some are only allowed to raise values by a certain percentage annually. Their assessment is generally on an annual basis. Most use formulaic cost-basis-software as a factor as well as looking as square footage, age, construction type, and other points such as upgrades. Some states make sales of real property public, and as such, those figures are available by assessors, though not always.

Realtors use a constantly changing market evaluation process to determine a sale's listing price. They basically take similar properties with similar construction, age, square footage, and upgrades recently sold within the area. Promogated forms clearly state that a Realtor's estimate is not an appraisal of property as realtors are not trained in appraisal procedures. Commonly, this is referred to as a value that a willing and qualified buyer is amenable to offer for the home in competition with similarly qualified prospective buyers. They compare properties similarly to what Rightguide said, although he missed many points about Trump's property not being like others.

You are correct in that no one is bound by asserting that county tax assessor value is the same as market value. Market value tends to be higher as most assessors are elected and don't want to piss off taxpayers. Taxes don't sway the market value; they are swayed by what one can sell a property for.
Trump played fast and loose with those numbers. So much so that he inflated property values by over 1,000% or inflated their size to bump up the numbers; in some cases, he assigned values to properties that were fabrications, such as the Trump Towers. It is a land lease occupancy. He doesn't own the land; he manages the building and personally owns only a small portion of the space. When the land lease is up, the building becomes the property of the German landowners. Trump will own nothing at that point - yet he failed to put that into his documents. Outright lied about the true worth of it as one of his holdings.

That, along with many other aspects of fraud, has Trump directly in the crosshairs of Da Letitia James in New York. We could go on and on about property values, but the real relevant issue is Trump's business tactics allegedly committed fraud in this case.

 

[dmallord]

Your words: “Trump signed off - in perpetuity - on valuating Mar a Lago as a residence.”

@Adriana

One has to read the sentence twice to get the nuanced meaning. As I understand this, Adriana is saying that Trump's signing off is, in effect, saying that IT IS NOT a residence and never shall be due to his agreement that it would remain a club.

If read too quickly it sounds like Trump claims it as a resident forever.

That is not the case; ergo, it is evaluated as a private club status versus residential property status.

 

[Fuzzy1975]

Re-read my post. Sound out the big words.

"initiating" is not a synonym for "actually been seized", that's just you being a little bitch again and trying to assign a position to me and then criticize me for "my" position. You do that 2 or 3 times a week....you can't help yourself.

I'm not familiar with the internal dynamics of NY property seizure (don't worry, you aren't either)
as near as I can tell, the seizing party can specify IN ADVANCE which properties he or she choose to seize (tp give employees advance notice, etc).

Be better. Just know you'll never "be best" as long as I'm on this board.

He'll never be better as long as anyone is on this board!

 

[adrina]

Your words: “Trump signed off - in perpetuity - on valuating Mar a Lago as a residence.”

You're a dipshit.

 

[BabyBoomer50s]

I do understand property assessment. For a number of years, I was a Realtor. I gave up my broker license and stuck with other real property investor roles.

Cities and municipalities set values on properties as close to market value as possible when legislative rules do not preclude them; e.g., some are only allowed to raise values by a certain percentage annually. Their assessment is generally on an annual basis. Most use formulaic cost-basis-software as a factor as well as looking as square footage, age, construction type, and other points such as upgrades. Some states make sales of real property public, and as such, those figures are available by assessors, though not always.

Realtors use a constantly changing market evaluation process to determine a sale's listing price. They basically take similar properties with similar construction, age, square footage, and upgrades recently sold within the area. Promogated forms clearly state that a Realtor's estimate is not an appraisal of property as realtors are not trained in appraisal procedures. Commonly, this is referred to as a value that a willing and qualified buyer is amenable to offer for the home in competition with similarly qualified prospective buyers. They compare properties similarly to what Rightguide said, although he missed many points about Trump's property not being like others.

You are correct in that no one is bound by asserting that county tax assessor value is the same as market value. Market value tends to be higher as most assessors are elected and don't want to piss off taxpayers. Taxes don't sway the market value; they are swayed by what one can sell a property for.
Trump played fast and loose with those numbers. So much so that he inflated property values by over 1,000% or inflated their size to bump up the numbers; in some cases, he assigned values to properties that were fabrications, such as the Trump Towers. It is a land lease occupancy. He doesn't own the land; he manages the building and personally owns only a small portion of the space. When the land lease is up, the building becomes the property of the German landowners. Trump will own nothing at that point - yet he failed to put that into his documents. Outright lied about the true worth of it as one of his holdings.

That, along with many other aspects of fraud, has Trump directly in the crosshairs of Da Letitia James in New York. We could go on and on about property values, but the real relevant issue is Trump's business tactics allegedly committed fraud in this case.

I haven’t disputed that Trump exaggerated the value of Mar a Lago or that the lenders agreed, made the loans, got paid, and made money.

The CNN clip that got TDS victims so worked up featured a real estate expert saying that if he sold his stake in the property, in her opinion, it would fetch many times the $18-28 million valuation.

 

[Lazaran]

@Adriana

One has to read the sentence twice to get the nuanced meaning. As I understand this, Adriana is saying that Trump's signing off is, in effect, saying that IT IS NOT a residence and never shall be due to his agreement that it would remain a club.

If read too quickly it sounds like Trump claims it as a resident forever.

That is not the case; ergo, it is evaluated as a private club status versus residential property status.

Adrina’s point was clear as day in the context of the exchange.

The corrupt orange traitor signed away ANY ability to LEGALLY value Mar-a-lago as a personal residence for ANY purpose.

Full stop.

 

[BabyBoomer50s]

@Adriana

One has to read the sentence twice to get the nuanced meaning. As I understand this, Adriana is saying that Trump's signing off is, in effect, saying that IT IS NOT a residence and never shall be due to his agreement that it would remain a club.

lol. Her sentence is clearly stated. There is no ambiguity or nuance. She owns her words.

 

[adrina]

L


Adrina’s point was clear as day in the context of the exchange.

The corrupt orange traitor signed away ANY ability to LEGALLY value Mar-a-lago as a personal residence for ANY purpose.

Full stop.

And bozoboomer up there is still going apeshit about the valuation. But he thinks everyone else is triggered.

 

[adrina]

Your words: “Trump signed off - in perpetuity - on valuating Mar a Lago as a residence.”

Only an idiot continues to argue a point when it's not only been explained numerous times, but every post after that clearly demonstrated my meaning.

T&P for your missing brain cells.

 

[Lazaran]

Helping a damsel in distress is very noble of you.

Mocking and clowning lying, gaslighting, garbage individuals, like BabyBoobs, is its own reward.



BabyBoobs

 

[BabyBoomer50s]

L


Adrina’s point was clear as day in the context of the exchange.

The corrupt orange traitor signed away ANY ability to LEGALLY value Mar-a-lago as a personal residence for ANY purpose.

Full stop.

I’m sure she’s grateful for your gallant rescue efforts but your words are not hers.

 

[Lazaran]

Only an idiot continues to argue a point when it's not only been explained numerous times, but every post after that clearly demonstrated my meaning.

T&P for your missing brain cells.

•
BabyBoobs is desperate for a W.

Any W.

Poor BabyBoobs.



BabyBoobs