If Leticia gets trumpf tower

[ICU 812]

Originally Posted by ICU 812

^^^

I have heard that sort of thing called a "sham transaction". It only works if completed in some legally defined time period before the date of the seizure or bankruptcy etc.

Anyone?

[onthemovie]

Fani Willis will always look stupid, no matter what happens!!

[1blackman1]

Originally Posted by ICU 812

In all seriousness: I do not really understand the status of Trump's properties if seized by the AG.

Are they completely forfeit and property of the State, county or city?

re they held in leu of the bond I hear talked about. In this case, can he redeem them at some point?

I have not read anything on that.

Anyone actually know?

The first that will happen is NY will place a lien on all properties belonging to Trump. This prevents and loans, sales, etc.

Then NY will seize property and essentially it'll go up for sale through the sheriff. That cash will then be used to satisfy the judgment.

That process will repeat until the judgment is satisfied.

Then any remaining properties with have the lien removed.

As for fraudulent transactions, sales or donations, yes, NY can sue to have those reversed so that the property can be subject to lien and seizure. There are two tests for determining whether a conveyance is fraudulent. Was it part of a normal business transaction and was it within the clawback time period. That time period is generally 2 years. It can go to 6 years under some circumstances, such as moving assets to avoid litigation or to make assets disappear in anticipation of bankruptcy.

[Yssup Rider]

Originally Posted by onthemovie

Fani Willis will always look stupid, no matter what happens!!

Wrong thread. This has nothing to do with the Georgia case.

This is about what Trump will do when NY starts seizing his assets to satisfy his fraud judgment.

[ICU 812]

Blackman1:

Thank you for that concise, straight forward and non-spun explanation of what the process is.

[TechPapi]

Can you imagine how much fun it's going to be having her dig through all drumpf's bullshit to find assets? It will all be public record for our amusement. I'm sure there will be some liens, but she will likely go after the cash first. I think he just told everyone he has $500m.


First, search. Then, seizure. How Tish James will go after Trump’s bank accounts and other assets.

NEW YORK — Frozen bank accounts. A sheriff at the door. And maybe even a private plane put up for auction.

Donald Trump could soon face any of those scenarios if he can’t come up with a roughly half-billion dollar bond by next week to stop the enforcement of a civil judgment after a judge found that he and his company committed widespread corporate fraud.

If Trump can’t find an underwriter to guarantee the amount on his behalf — and if he fails to persuade a court to give him an 11th-hour respite while he appeals the verdict — New York Attorney General Tish James can begin seizing his assets.

Monday marks the end of a 30-day grace period that James granted Trump, and she has said she is prepared to act.

“If he does not have funds to pay off the judgment, then we will seek judgment enforcement mechanisms in court, and we will ask the judge to seize his assets,” she told ABC News last month. And James has already taken preliminary steps: She has filed the Manhattan judgment in neighboring Westchester County, a precursor to any enforcement actions there.

But even if Trump fails to obtain a bond by the deadline, don’t expect to see James or her deputies immediately marching over to Trump Tower to change the locks.

For one thing, seizing Trump’s assets will require James to go back to court to get a judge’s approval to gain access to Trump’s property.

And for another, James likely wouldn’t start by targeting his real estate holdings, said legal experts. She is more likely to begin by seizing his bank accounts, which would give her direct access to cash, rather than an asset she would need to liquidate.

In order to seize a defendant’s bank accounts, a judgment creditor typically first goes through a discovery process to identify where they are. Then the creditor asks the banks to freeze the accounts — and asks a judge to have the money in the accounts turned over.

In this case, the judge making that call would be Justice Arthur Engoron, who imposed the $454 million penalty last month and whom Trump has repeatedly assailed in the courtroom and in various other public settings.

The approval process regarding asset seizures is typically very quick, said Mitchell Epner, a former federal prosecutor, and usually consists of a brief hearing and then a decision within about a week. Trump will have “extraordinarily limited appeal rights” on Engoron’s decisions, Epner said. “I’ve never seen anybody pursue them.”

Of course, seizing Trump’s bank accounts is unlikely to produce enough cash to satisfy the full judgment — Trump’s lack of liquidity is precisely the reason he’s struggling to post the bond in the first place. On Friday, Trump claimed on social media that he has almost $500 million in cash, but in court filings, his lawyers have made clear that he lacks the cash to satisfy the judgment.

[Precious_b]

Originally Posted by 1blackman1

The first that will happen is NY will place a lien on all properties belonging to Trump. This prevents and loans, sales, etc.

Then NY will seize property and essentially it'll go up for sale through the sheriff. That cash will then be used to satisfy the judgment.

That process will repeat until the judgment is satisfied.

Then any remaining properties with have the lien removed.

As for fraudulent transactions, sales or donations, yes, NY can sue to have those reversed so that the property can be subject to lien and seizure. There are two tests for determining whether a conveyance is fraudulent. Was it part of a normal business transaction and was it within the clawback time period. That time period is generally 2 years. It can go to 6 years under some circumstances, such as moving assets to avoid litigation or to make assets disappear in anticipation of bankruptcy.

Originally Posted by TechPapi

Can you imagine how much fun it's going to be having her dig through all drumpf's bullshit to find assets? It will all be public record for our amusement. I'm sure there will be some liens, but she will likely go after the cash first. I think he just told everyone he has $500m.


First, search. Then, seizure. How Tish James will go after Trump’s bank accounts and other assets.

There is a retired Federal Judge who has been hired to make sure donny doesn't do any hanky panky in moving around his assets.

[Yssup Rider]

Trump is going to have multiple seizures this week.

Last I looked, he hadn’t posted his bond.

Perfect locations for asylum seekers to await their hearings.

https://abcnews.go.com/US/trump-prop...y?id=108455801

[Hdtown]

Diaper Don is is a moran and has this coming, great day to see him squirm.

[winn dixie]

What a grand and great day in America.
Glory hallelujah.
Better give up them keys to the properties heir trumpf. Leticia gonna get em

[VitaMan]

Trump New York fraud bond cut to $175 million in appeal from $454 million

[winn dixie]

Originally Posted by VitaMan

Trump New York fraud bond cut to $175 million in appeal from $454 million

Plus 10 days to pay.
This is a travesty. In 10 days will he pay the overly gracious reduced amount? Very doubtful. Trumpf is a mockery of our judicial system. Those with power like trumpf will abuse it.

[Salty Again]

Originally Posted by Yssup Rider

Trump is going to have multiple seizures this week.

Last I looked, he hadn’t posted his bond.

Perfect locations for asylum seekers to await their hearings.

https://abcnews.go.com/US/trump-prop...y?id=108455801

... HEE HEE! ... ...

... Surely looks like NO Trump Tower for Leticia ...

#### Salty

[1blackman1]

Has he come up with the 175

[Yssup Rider]

Originally Posted by Salty Again

... HEE HEE! ... ...

... Surely looks like NO Trump Tower for Leticia ...

#### Salty

I assume that means you're happy a conman conned a judge again.

That's a great cause for celebration. Now everybody can do it.

TEE HEE.