think it is VERY unlikely that any of Trump’s properties are actually seized. As I understand it, ALL of them have other investors (though Trump has a controlling interest). There are other “owners.” So Leticia James would also have to divest those owners of property–all without even a trial!
“New York is unique, I think, in this case, because they have made even the bond confiscatory, so, it’s not just the damages, but the bond rule that seem to be punitive and it’s certainly the use by James and this judge,” Turley added. “So those are going to be viable challenges, and it could go all the way to the Supreme Court.”
So it’s not just taking things away from Trump without trial. How on earth could such a thing stand? And even if it did initially, who would spend HUGE money on a property without an absolutely clear title?
I mean, what if a court eventually gives the property back to Trump? Do you (the subsequent owner) get your money back? With interest? And what about the hours and hours and expertise you put into creating an investor group and money offer?
And collapse the NY real estate market for this? Letitia James seems to be making an empty threat. That, or she really doesn’t know what the crap she’s doing. Maybe a bit of both…