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Do you believe that a judge can take personal property? I hope not.
p.s. banks that loaned the Trump's money should know how to value of the various Trump properties, that is their job
And if Mar-A-Lago is ALSO seized as part of the judgment? Being in a different State... CAN it be seized? WILL it be seized?
Mara Lago can't be seized or sold. It's an historic trust.
And a lot of commercial property worth, is based on how much money they bring in. Two identical apartment buildings. One brings in $1 million a year in rent. The other brings in $5 million a year in rent.
Which one is worth more?
And how does the bank find out how much money the building brings in?
It's not a "historic trust", it's a historic property.
Sure it can since it's a business.
MAL can be sold, but the buyer may be required to adhere to historic deed limitations on such things as (a) new constructions, (b) remodeling, (c) land usage, and (d) limitations on not being able to subdivide the property for sale.
WW
www.newsweek.com
How Donald Trump killed Mar-a-Lago's market value
Mar-a-Lago historian Mary Shanklin says it could have been worth "much more" than $100 million if Trump hadn't taken this step.
"What really diminishes the value of that property is an easement that he signed with the National Trust for Historic Preservation," Mary Shanklin, the author of American Castle: One Hundred Years of Mar-a-Lago, said in a Tuesday interview. "That's what kills any potential market value."
Yep, he wanted tax breaks. That does not mean that MAL is owned by a trust, what it means it is deed restricted as to what can be done with it. Those restrictions don't limit the sale, they limit what owners (current and future) can do with it.
WW
That limits the sale.
Oh true. There may not be a lot of buyers that will want to deal with the deed restrictions. But that is a sellers market issue not a "it can't be sold" issue.
So you post it for $250M, if it doesn't sell post if for $200M. Rinse repeat. It will eventually sell.
WW
It's the banks' job to know how much things are worth.And a lot of commercial property worth, is based on how much money they bring in. Two identical apartment buildings. One brings in $1 million a year in rent. The other brings in $5 million a year in rent.
Which one is worth more? And how does the bank find out how much money the building brings in?
They're beginning something They will not know how to finish especially when it turns around and bites them.... Shades of Harry Reid as always.wouldn't the left love that? Well. not as much as if they could torture and kill him every day, revive him and do it all over again.
It's the banks' job to know how much things are worth.
I can say from personal experience that bankers know how to verify financial information.
Banks have sophisticated financial modeling and investigators that do sophisticated risk analyses.
Actually I think I'm right and the bed wetters are wrong.You may be stating his problem incorrectly.
His problem isn't that the amount of principal on the various loans and insurance was incorrect on the capital property. He over inflated OTHER properties held in various shell companies (IIRC over 500) to inflate his net worth to get lower rates that he normally wouldn't have gotten.
If you equate it to a home mortgage:
- The principal borrowed is valued against the home.
- The interest rate you pay for the loan depends on reported income, other assets (checking, savings, CD's, investment, etc.), and your credit score.WW
...or the NY commies just abused the legal system to destroy a political opponent, so #151 does apply.Yet Trump was found liable, kyzr, so your point in #151 does not apply.
Actually I think I'm right and the bed wetters are wrong.
Business runs on the rule "Caveat Emptor", correct?
That means that the lenders need to do their "due diligence" before lending money. The banks had to be sure Trump was good for the loan. The fact that they all made money and would all do business again means that Trump and the banks just did good business deals. The banks all know big borrowers' "credit worthiness".
Actually I think I'm right and the bed wetters are wrong.
Business runs on the rule "Caveat Emptor", correct?
That means that the lenders need to do their "due diligence" before lending money. The banks had to be sure Trump was good for the loan. The fact that they all made money and would all do business again means that Trump and the banks just did good business deals. The banks all know big borrowers' "credit worthiness".
I wonder if that's actually true... can't see why a trust can't be transferred to the highest bidder... but I'm out of my depth on that.Mara Lago can't be seized or sold. It's an historic trust.
