Donald Trump transferred ownership of Mar A Lago estate to his son days before arrest
Donald Trump recently "sold" Mar A Lago, his beloved home in Florida, according to property records.
However, a bit of investigation recently revealed that the ownership did not, in fact, leave Trump's hands.
Rather, he transferred it into a corporation.
The owner of the corporation has a very familiar name, his son - Donald Trump Jr.
it is more straightforward for Jr to get it. But would be funny if Jr sold it and hosted a two week cocaine bender with a couple hundred guests
From Chappelle's show - when his character got his realtor's license, then sold the house of the family who got him off the street - and when Dave was funny.
Hey man. Wanna buy some weed?
How old is that skit? 15-20 years? Still funny.
Always trying to game the system, ALWAYS
five year rule for nursing homes. Although, hes got funds to cover nursing home costs so not sure his thought here.
Note that he didnt trust Melania with it.
Edited to add: Hope DOJ has the right agency fingerprint all the boxes, folders and docs.
it from liens and creditors.
Financial experts say that this is a common tactic done by wealthy men who are charged with financial crimes to avoid losing it to civil forfeiture."
He knows they are going to win, and they are going to take everything.
He is trying to at least slow that down.
The special judge reviewing finances is already calling fouls. This isn't going to help.
I figured they would probably do that.
Anyone goes after Trump for money, he won't have any.
...he'll milk as much cash as he can out of his base and then he'll disappear. No way he is ever going to prison...he's much too good for that. That's for the low-lifes. Not him! At least that's what he thinks.
It's the only thing that's given me a momentary pause about Gavin Newsome.
Well, that and his passing resemblance to Patrick Bateman.
though the criminal defiling it may make it seem that way.
It was Emily Post's extravagant winter residence which is now one of the only ones from that era (1920s) still standing.
Its where many deplorable acts have taken place.
Let all get in on it and chant loudly,
Tear it down! Tear it down! Tear it down!
She became the owner of general Foods Corporation after the death of he father, C.W.Post.
She was the mother of actress Dina Merrill.
Damn. He's anticipating being taken to the cleaners in a massive way. 😂🤣
ta ta daddio - you taught me well suckah!
making obvious assets various entities will go after when he refuses to pay bills and settlements at least harder to get to.
EJC and her judgement and from any upcoming judgements/fines. If Melania has any brains at all she will have an outside "adviser" explaining to her that she needs to be taking assets along the way and placing them in her name/control because the chances that the Orange Ruski will honor any promise/pre-nup etc. are exactly zero. Not that I actually care a thing about what happens to her but I would like to see her bleed him as much as possible by threatening to go to the cops and spilling what she knows.
They are trying to hide money from EJC and Bragg and all the others who will be expecting him to pay fines, using the GA case as cover/distraction for it.
Did he transfer Bedminster to anyone?
Maybe he plans to rely on Scotland property for home detention? Don't the Scots hate him too?
is that nobody can see one's tongue firmly placed in one's cheek
I want him to sweat.
According to this article, certain acts are considered badges of fraud in determining if a conveyance is fraudulent:
becoming insolvent because of the transfer
lack or inadequacy of consideration
family or insider relationship among parties
the retention of possession, benefits or use of the property
the existence of the threat of litigation
the financial situation of the debtor at the time of, or after, transfer
the existence of a cumulative effect of a series of transactions after the onset of debtor's financial difficulties
the general chronology of events
secrecy of the transaction
deviation from the usual method or course of business
The Bankruptcy Code allows trustees to recover the fraudulently-transferred property.
So let me see...
Mar-a-Lago is worth either $739 million or $75 million depending on who you believe. Let's use the lower value. If Trump sold the property to Don Don for less than that, number 2 applies.
Since he transferred it to Don Don, number 3 applies.
He's still living there, or will once the temperature in Florida drops below the boiling point of pig iron, so number 4 applies.
He's under both civil and criminal indictment, so number 5 applies.
Chronology doesn't look good - he transferred the property between Criminal Indictment 3 and Criminal Indictment 4 - so number 8 applies.
AND it's almost certainly seizable as part of his RICO punishment.
Sorry Donald, but actions have consequences.
Those assets will be clawed back.
Start hiding your money for the upcoming civil action or traveling to an extradition free zone that will follow
Even Trump knows he's in deep crap
Wants to keep it in the family, and protected from any legal complications under which he might lose it.
My guess, anyway.
Shed better be careful. I doubt shes that fond of golf courses.
would the Court actually allow him to hide assets in this manner?
is in your future. It's why I lot of ppl move or keep homes there. In Many states you're allowed a modest home and vehicle. In Florida however the law lets you keep a multi-acre estate (and guest houses) along with whatever assets their upkeep requires. Maybe this was tfg's thinking when his only legal worries were civil, but I'm sure they began to change as soon as multi-criminal indictments fell. Hopefully all future investigations into assets (and the hiding of) will include all advisors before, during and after the fact.
do things like this to make you spend more money on legal fees fighting to overturn them shuffling the assets. They know the potential fees and they deduct that amount from what the judgement is and then offer you maybe less than 25% of the balance in order for you to get some money right away. It gives them an avenue to knock financial judgements down by drastic amounts. It's why I have always said the law should require an escrow account immediately upon judgement. In large judgement cases of a defendant with lots of various holdings and financial entities they should also be immediately placed under the control of a court appointed administrator until the appeals are done and a final judgement is paid.
Orb Obsession. I think it's in DSM-XLV somewhere (he's enough of a basket case they devoted an entire volume to him).
Fulton County Criminal #1 is getting bad legal advice, I think. A person cannot shield illegally-acquired assets from bankruptcy creditors or U.S. government criminal courts.
When creditors seize Mar A Lago there wont be enough equity left for Junior and Gargoyle to buy an eight-ball.
which could come back biting DTJ in the ass. The big issue is what he actually sold vs kept for himself, there are multiple moving parts to an endeavor like Maralago. If he actually transferred the real estate / appreciated business everyone is going to be in a world of hurt tax wise vs letting it pass when he dies. Recaptured depreciation and inherited basis is no fun in the tax world.
Meaning it could be seized after the creditor breaks through the transparent corporate shell games.
I think he is planning on leaving the country. Instead of putting up the 200000g he has only a 20g lose. The transfer also protects his favorite investment.
If he had $442 million liquid would he be paying a bail bondsman 15% for 180k?
Jeez. What a bunch of show for a crappy ex-President, a convicted criminal, and a $hitty person.
Just because that isnt the part he was convicted for doesnt mean hes not a convicted criminal.
He was not "convicted" of anything. He was found liable for sexual abuse in a civil court.
Not to me they arent. Hes a Phucking criminal who got caught but somehow skated outside of it again.
I've been to events with former Presidents. They don't get a motorcade that large on a daily basis.
And if any were involved in an intense event of controversy they certainly would get that motorcade. Do you really think that Trump is dictating to the SS how many cars will be in the motorcade? Is the SS that corrupt? Where is your evidence?
most laws - bankruptcy, etc., specifically refuse to recognize transfers made for purposes of defeating said law.
The corporation avoids a gift tax? Or maybe there is none if Florida.