Jesus, relax a bit. You're showing symptoms of "Mas"-hysteria.
Judge puts Trump out of business in NY?
- Thread starter UncleMark
- Start date
BTW, despite the bickering back and forth and political differences, I am truly happy that you had a good day yesterday. Blessings to you and your new wife.
So you're referring to Mar-A-Lago?
He's not doing anything unethical there at all.
The county assessor is responsible for his tax assessed value. If he was found guilty of bribing the county assessor...you'd have a case. Definite fraud.
Are you arguing that it is unethical of him to not petition the county to assess his property at actual market value? You're obviously not that obtuse (I think).
His estimated value of MAL at $2B is irrelevant. It's his opinion, and his lenders can either take it or leave it based on what they think the true asset value is...and if MAL is actually offered up as primary security on a loan considered "risky", they're doing their own independent valuation. If he's submitting verified rent rolls or operating statements with obvious inaccuracies, that's obviously fraud.
I don't see that here. It's his "opinion of value" on a REO Schedule or PFS.
This is like the USGA banning him from doing business as a golf course operator in the US because he claims Doral is "hugely the best course in Florida", when some other rating agency disagrees.
Who cares what he thinks? Any lender/insurance agency is doing their own due diligence. His "opinion of value" is irrelevant.
You apparently haven't read the ruling.
1) No, not just Mar-A-Lago. There are several properties where this took place. The 3x the size thing is for one of his properties in NY.
2) For Mar-A-Lago, he bought the property and signed a "Deed of Conservation and Preservation Easement". This basically was him agreeing that the property would only ever be used as a social club. He couldn't divide the property, he couldn't add residences, etc. "In exchange for the easement, Mar-A-Lago was taxed at a significantly lower rate (the club rate) than it otherwise would have been (the private home rate). As such, it is zoned as a social club and not as a residence. So, it doesn't matter that the properties surrounding him with giant mansions on them are selling for 500 million. That property is zoned in a way so that its value is significantly less than its neighbors.
He agreed to his property being zoned this way so that his taxes would remain low.
He can petition the city to change this agreement, but if they say no, then there's not much he can do about it.
That does not give him the right to proclaim that the property is worth 10x more and file financial documents proclaiming that the property is valued at that amount until the city agrees to void the Deed of Conservation.
And when he sells it for a half billion or so the buyer would petition to have all that reversed which it would be. You're completely deranged.
You have it backwards.
The buyer would ask the city what it is worth (you know, do the due diligence that these supposed banks that loaned Trump did not).
The city would say 20 million.
The buyer would say, "WTF, Trump is asking for 750 million?"
The city would say, "It's zoned as a social club with a conservation / preservation deed."
The buyer would say, "Oh. OK, can you rezone this so that I can develop it as a condo with 3 residences on it?"
The city would say, "No, it's staying as a conservation area".
***Maybe the city would say yes, but I doubt it. Knowing government, the buyer would have to throw in some kind of incentive that has a significant financial value to the city and also still maintains the conservation requirement (ie, I'll buy this second property over here and we can turn that into a conservation area instead).
The buyer returns to Trump and says "No thank you. I'm not spending 750 million for a property that I can only sell for 25 million ten years from now."
I've learned more in regards to commercial real estate finance at the Cooler than I have over the past 28 years financing guys like Trump. 😄
And the biggest problem is, if some of us don't push back with COMMON FRIGGiN Business sense, around here, the idiot left that are working hard to concrete their totally uniformed, never practiced ideology around here, are allowed to (Groom) dumb down more and more of the population.
This is exactly how Hitler took over. They know it, but we are smarter than that. They are retrying centuries of failed bullshit, because it will work THIS TIME. ....
NOPE. Not on our watch.
Well, actually, the buyer would be smart to get the zoning changed in advance of the sale or get Trump to agree to an option to purchase the property contingent upon the zoning being changed before the sale becomes final.
Wait until they sell his assets and they find out they're actually worth what he says they are.
Yeah, it's a real joke when someone's business is destroyed for nothing but political purposes.
Goat is the defense attorney that would work triple time to get the Delphi murderers off, on a technicality. If it meant that his $200k of student loan debit would be forgiven. (they still did it, but that wouldn't care to him if he's paid).
over 400 million privatly owned fire arms in america with an average of > 700 rounds of ammo.
IT will be activated, from the well regulated militia.
You know nothing about business, so your opinion is worthless.
Go kiss your TSwift posters.
If I was Elon I'd come in an buy them all for 10x what he's asking just to give them the double barrel 🖕🖕
Would be worth every penny.
Well, if they have to sell Trump's assets quickly to pay a court judgment, his properties will probably not yield top dollar. So that won't tell us much about whether he was honest in writing these SFCs.
That reminds me -- this process may start Monday when the trial is scheduled to begin on the remaining issues and remaining defendants:
Trump New York fraud trial cleared to start Monday after appeals panel ruling
Donald Trump, two of his adult sons and the Trump Organization are accused by the New York attorney general of misstating the values of many real estate assets.
It will be interesting.
I know enough. I know that you and other Trumpers make excuses and play the victim no matter what he does.
Are you sure that you just don't resent that Trump didn't give you a sign language massage? He could still, you know! Ask and thou shall receive.
More proof you guys don't actually pay attention to anything anyone says. You just attack people you disagree with.
Or showering with your daughter or groping women and smelling young girls' hair.
Like that?
Or getting a lap dance from your daughter? Like that?
This is why YOU don't take him seriously - you can't challenge him intellectually, so you try to belittle him.
Your Lilliputian minds are way overmatched.
If it's a tax issue, then charge him what he owes. Pretty simple, if that's the issue.
That's how it's done for everyone else.
No like raping several women, and sexually harassing at least 20. More like that.
