The Monday deadline for former President Trump to pay his $464 million bond or risk having his assets seized in the corrupt city of New York ticks.
However, reports admit that it won’t be as easy as New York Attorney General Letitia James just showing up and expecting the former president to hand over the keys to his properties.
According to New York real estate attorneys, the process of taking over an individual’s assets is slow and taxing when the properties are comprised of several different ownership and titles, mortgages, and co-ownership claims.
James’ is subject to run into several different obstacles when acquiring the properties from Trump should he miss the deadline to pay the multi-million dollar bond.
Trump’s legal team has argued that seizing the former president’s properties would do irreparable harm.
The outlet also notes that if Trump has put his assets into a trust for his children, the GOP 2024 frontrunner no longer has control over the properties.
“The attorney cannot touch anything in an irrevocable trust,” Bailey said. “Letitia James will be able to get the cash and the furniture but that won’t come anywhere near the judgment. James probably knows that she used an arcane statute not meant for this type of case, and knows the decision will get cut down on appeal. If she gets $100m that would be good news for her.”