It’s typically how all big real estate operates. If they sell, they can get hit with a massive capital gains tax. So, they just borrow on the asset.
I’m sure Oak knew that.😂
But that is not the point. If he had equity in these properties, if there was no other liens or claims against them, then he could use the properties as collateral without having to sell them. Remember, he is going to win his appeal. Right? That is the only reason for filing it. Right? No one files an appeal with the expectations of losing because that is only more $$$ they are going to spend along the way on lawyers, interest, court costs, etc.. (yeah we all know that in actuality he is just filing the appeal to delay paying the judgement hoping he wins the election and buries it, but forget that scenario for a minute.) So he is going to win and the bondsman money is safe and will be returned.
Or he will lose and the bondsman money is still safe and will be recuperated because they can collect against the collateral. Except, the fact that no one will accept any property for collateral which only highlights that there is something going on that scares them off. Is it the fact he was found guilty for over appraising them? Is it the fact he has a history of not paying and trying to evade his debts? Is it the fact that the assets are leveraged out and there is nothing to grasp should he lose the appeal? No one knows. Yet. All we know is that 30 entities have thumbed their nose at him over this. Not a good track record for someone claiming banks were begging to do business with him.
Again, I ask... why not put Mar-A-Largo up for collateral and borrow the money from Jared? He is a real billionaire. And if Trumpy loses his appeal, then Mar-A-Largo stays in the family.
