tRump properties sold off at fire sale prices?

[Sibelius Fan]

When NY starts to seize tRump properties in order to enforce that $464-million judgement, they will need to sell those assets to realize the judgement. It occurs to me that any prospective buyer will be in a position to offer below-market for these properties. And if NY accepts low offers, it will need to continue to seize more assets to sell to fully realize the judgement.

tRump could be in a position to lose pretty much everything. Am I wrong?

[RandySF]

1. Wouldn't the tower cover the half-billion?

[WarGamer]

2. Trump doesn't own it.

The penthouse and the commercial areas plus parking...

Maybe $2-300M assuming no liabilities on them

[RockRaven]

3. And if the asset seized has mortgages/debts/etc, do those get paid

in full before the state, or what?

[spooky3]

5. Yes, plus taxes on any gains. Nt

[Irish_Dem]

6. Yes of course, lenders, state, local, federal taxes on the sale

all have to be paid first.

[RockRaven]

10. Is the state allowed to take assets which "whoops" are so heavily encumbered

that the net payment to the state ends up being zero or very small?

i.e. could the state, if it had perfect knowledge of his debts/asset valuations/etc, purposely strip assets (and their associated liabilities, naturally) away even if it doesn't get them closer to getting fully paid?

[Irish_Dem]

11. These are the questions everyone is asking.

The experts are saying that Ms. James can put padlocks on Trump's properties.
What she does with them then is up to her.

The state also has the option of keeping the building and making it state property.

I like to think she knows exactly the value of each property and how much she
can get for each one after debts and taxes are paid. Or if it will become state property.

[OAITW r.2.0]

4. They need to develop a list of all Trump Co. assets. Then figure out the encumbrances, than figure out the current

market value to sell expeditiously. Will that cover the $565MM boggie?

[Irish_Dem]

8. That is the major question.

The properties are said to be heavily mortgaged (according to Michael Cohen), those lenders have to be paid.
Then significant state, local, federal sales taxes.

I would hope Ms. James has figured out all of this beforehand.
And knows how many properties she needs to seize.

[NanaCat]

18. I think that's what the monitor is supposed to do

She couldn't monitor the assets without knowing about the existence of all of them, and their value.

[spooky3]

7. And, now is a pretty bad time to sell commercial property generally.

After the pandemic, lots of office buildings are vacant, due to remote work policies. Former city dwellers moved to suburbs or less expensive communities.

[OAITW r.2.0]

14. No doubt...and the big properties are in this class of RE problems.

So, as they understand the real property values, after costs/taxes, what's left? Every single piece of real estate Don or Trump Co has, will be part of the settlement. Including MAL....LOL Maybe his SIL can get him a deal in West Palm Beach.

[rsdsharp]

9. Even if there is a building that he owns and isn't leveraged to the hilt,

who would buy it? If he owns it, you know it’s decorated in Early Brothel. It would cost a mint to renovate to something approaching good taste.

[DET]

12. A Question

Is the AG limited to seizing Trump’s New York properties, or can she seize property outside of New York as well? How about internationally (e.g., his golf courses - not that they’re profitable)?

[dalton99a]

16. She can seize his assets outside of New York.

[mucifer]

13. Couldn't putin pay someone to buy it at a totally inflated amount so that putin could own trump?

[OAITW r.2.0]

15. In theory, but how does that work in reality?

How does Don explain a sudden $600MM addition to the profit side of the balance sheet?

[Sibelius Fan]

17. Isn't every tRump financial transaction being monitored right now?

Any influx of cash would be subject to oversight by the government.

[GoodRaisin]

19. I believe I heard they would take the most liquid assets first. Like

all his money.