New York's attorney general could start seizing Trump assets if he cannot come up with a $464 million bond in his civil fraud case.
  • Pronell@lemmy.world
    0·
    2 years ago

    So if these properties are seized and mortgaged to the hilt, he’s still responsible for the balance owed, isn’t he?

    Ahahahahahaha!

    • partial_accumen@lemmy.world
      0·
      2 years ago

      I wouldn’t think so. I would think they’d seize properties base on only the equity, not the total mortgaged value. Likely why this list is so large, so little equity in any of the properties so more need to be seized to meet the total balance of the judgment.

        • partial_accumen@lemmy.world
          1·
          2 years ago

          So…you do think so.

          No…? I’m not sure how you got that. I think the confusion in communication goes back to @Pronell@lemmy.world 's statement. Let me introduce my additional understanding there. They said the following, note my addition:

          So if these properties are seized and mortgaged to the hilt, he’s still responsible for the balance owed [on the mortgages], isn’t he?

          So to restate my position:

          No, I do not believe so. I don’t think if the court took a $10million property with a $9million mortgage on it (meaning $1million in equity), I do NOT believe Trump would still owe the outstanding $9 million mortgage. The court would have the equity AND the debt, and would sell off the property keeping the equity and paying the lender the outstanding balance.

          Further, lets say for easy math the judgment was only $5 million. Lets also assume that there were 5 identical properties with value, mortgage, and equity. I believe the court would take 5 properties which would equal the $5 million in equity which would equal the $5 million in the judgement.

          Does that add clarity?

  • Neato@ttrpg.networkEnglish
    0·
    2 years ago

    In case you didn’t want to go into the article.

    • Trump Park Avenue, New York, N.Y.
    • Trump Tower, New York, N.Y.
    • 40 Wall Street, New York, N.Y.
    • Seven Springs, Westchester County, N.Y.
    • Trump International Hotel and Tower, Las Vegas, Nevada
    • Mar-a-Lago, Palm Beach, Florida
    • Trump National Golf Club Westchester, Briarcliff Manor, N.Y.
    • Trump National Golf Club Charlotte, Mooresville, North Carolina
    • Trump National Golf Club Colts Neck, Colts Neck, New Jersey
    • Trump National Golf Club, Washington, D.C., Sterling, Virginia
    • Trump National Golf Club Hudson Valley, Hopewell Junction, N.Y.
    • Trump National Golf Club Jupiter, Jupiter, Florida
    • Trump National Golf Club Los Angeles, Rancho Palos Verdes, California
    • Trump National Golf Club Philadelphia, Pine Hill, New Jersey -Trump International Golf Links Scotland (Aberdeen)
    • Trump International Golf Links Scotland (Turnberry)