Real estate insiders bewildered by judge’s $18M valuation of Trump’s Mar-a-Lago: ‘Wou

QP! said:
No, no one knows that.


That is the one legitimate issue that will only be settled by the Appeals court and should be.

But as a betting man, I am confident Justice Engoron's ruling will hold.

It would make no sense to use the Loan "transaction" date alone to set a statute, meaning that the person then could go on for decades later submitting the false documents to great personal benefit and not be held to account. What makes sense is what Justice Engoron ruled which is that if you do transactions with those docs, after that, it is that date of transaction utilizing the fraudulent doc's that sets the new statute of limitations.

And there is precedent to that in other areas of civil law.
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Since Engoron broke the law, I don't see how.
There is no fraud.
 
ptif219 said:
You do know most of it will be dropped because of the statue of limitations
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The judge explained that and people of average intelligence or better understood. The repetition of the crime kept moving the limitations down the line. You do not know that.
 
QP! said:
No, no one knows that.


That is the one legitimate issue that will only be settled by the Appeals court and should be.

But as a betting man, I am confident Justice Engoron's ruling will hold.

It would make no sense to use the Loan "transaction" date alone to set a statute, meaning that the person then could go on for decades later submitting the false documents to great personal benefit and not be held to account. What makes sense is what Justice Engoron ruled which is that if you do transactions with those docs, after that, it is that date of transaction utilizing the fraudulent doc's that sets the new statute of limitations.

And there is precedent to that in other areas of civil law.
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Anybody that owns property knows it
 
Nordberg said:
The judge explained that and people of average intelligence or better understood. The repetition of the crime kept moving the limitations down the line. You do not know that.
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The judge showed his bias and rejected what palm beach realators said

https://broward.us/2023/09/30/new-y...rattles-palm-beach-luxury-real-estate-market/


The judge concluded that Trump overvalued Mar-a-Lago, inflating its value on one financial statement by as much as 2,300%.

One of the real estate professionals who suggested it is worth more than $1 billion was Lawrence Moens of Palm Beach, who was called to testify via deposition for the defense as an expert witness.

Recounting Moens’ testimony, the judge was dismissive.

“In his sworn deposition, when asked “who were the dozen or so (qualified) buyers that you were referencing in your report, Lawrence Moens replied: (he) could dream up anyone from Elon Musk to Bill Gates and everyone in between. Kings, emperors, heads of state. But with net worths in the multiple billions.”

“Obviously, this Court cannot consider an ‘expert affidavit’ that is based on unexplained and unsubstantiated dream(s),” the judge noted.

But Moens is well-versed in the Palm Beach market. A broker in town for decades, he recently represented the seller in the $170 million sale of the mansion to Michael Cantanucci, the auto dealer..

Moens did not respond to a telephone message left at his office on Friday.
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ptif219 said:
Anybody that owns property knows it
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Wrong.

No one who buys property on X date, thinks they can use that purchase fraudulently and inflate the value thousands of times, 15 years later and put that on legal doc's committing fraud, but say, 'too bad, the purchase date was 15 years ago so even though the fraud was committed this year, you cannot prosecute due to the Statute of Limitations'.

That is not how it works. It is when the crime is done, that matters.
 
ptif219 said:
The judge showed his bias and rejected what palm beach realators said

https://broward.us/2023/09/30/new-y...rattles-palm-beach-luxury-real-estate-market/
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The key to the dishonesty in your quote is this sentence...

"The judge concluded that Trump overvalued Mar-a-Lago, inflating its value on one financial statement by as much as 2,300%...."

The bolded above was to contrast that there were TWO financial statements and one over valued the property compared to the OTHER by 2,300%.

It is that Trump used two VASTLY DISPARATE valuations, one to benefit on the low end for taxes, and the other to vastly over estimate the value on the high end to gain better loan terms and leverage.

That is the fraud. You cannot make two vastly different documented statements on the same thing.
 
If you pay property taxes you know that the property tax evaluation is much lower than its sale value. It is the same in Florida.
 
Nordberg said:
If you pay property taxes you know that the property tax evaluation is much lower than its sale value. It is the same in Florida.
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Trump himself does not agree with you and argued Mar A Lago was an exception to that and actually worth LESS than assessed value because of all the conditions Trump had agreed to in developing it that limited its future value forever.


QP said:
This was the challenge by Trump saying the Assessed value of Mar a Logo was too high at $26MM and needed to be lowered as Trump had signed agreements that the property could never be developed or turned into residential, thus locking it out forever from comparable property values based on them being redeveloped.
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Property-tax bill down slightly for Mar-a-Lago; Trump’s Palm Beach County taxes hold steady at $1.48M, analysis shows
Mar-a-Lago’s property-tax bill is slightly lower than last year at $511,673, while Trump’s total bills in Palm Beach County scrape $1.5 million.


...Tax representatives at Marvin F. Poer & Co., acting on behalf of Trump’s property ownership entities, filed petitions this year to the state-authorized Value Adjustment Board challenging the valuations assigned to Mar-a-Lago and the Trump National Golf Club in Jupiter, according to a spokeswoman for the county appraiser’s office....
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Trump loves to feel he is entertaining, and nothing is more entertaining than seeing the unraveling of a mad man as Letisha James shows him what a real boss is and demonstrates how impotent Trump is.



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Brava Trump. Well done. Standing ovation. We are ready and eager for Act 2!
 
QP! said:
Wrong.

No one who buys property on X date, thinks they can use that purchase fraudulently and inflate the value thousands of times, 15 years later and put that on legal doc's committing fraud, but say, 'too bad, the purchase date was 15 years ago so even though the fraud was committed this year, you cannot prosecute due to the Statute of Limitations'.

That is not how it works. It is when the crime is done, that matters.
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No crime. No fraud either.

If you can buy a property at a given value, then sell it for thousands of times that value 15 years later, you've made a damn fine investment!
 
QP! said:
Wrong.

No one who buys property on X date, thinks they can use that purchase fraudulently and inflate the value thousands of times, 15 years later and put that on legal doc's committing fraud, but say, 'too bad, the purchase date was 15 years ago so even though the fraud was committed this year, you cannot prosecute due to the Statute of Limitations'.

That is not how it works. It is when the crime is done, that matters.
Click to expand...

No crime.
 
QP! said:
The key to the dishonesty in your quote is this sentence...

"The judge concluded that Trump overvalued Mar-a-Lago, inflating its value on one financial statement by as much as 2,300%...."

The bolded above was to contrast that there were TWO financial statements and one over valued the property compared to the OTHER by 2,300%.

It is that Trump used two VASTLY DISPARATE valuations, one to benefit on the low end for taxes, and the other to vastly over estimate the value on the high end to gain better loan terms and leverage.

That is the fraud. You cannot make two vastly different documented statements on the same thing.
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The judge has no authority to valuate any property.
There is no fraud. Assessed value is set by the State assessor. The market value is set by the real estate market. They are not the same value.

Obviously, you have never owned property.
 
QP! said:
Trump himself does not agree with you and argued Mar A Lago was an exception to that and actually worth LESS than assessed value because of all the conditions Trump had agreed to in developing it that limited its future value forever.
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Developing real estate does not limit its value to anything.
There is no 'special exception' to Mar-a-Lago.
 
QP! said:
Wrong.

No one who buys property on X date, thinks they can use that purchase fraudulently and inflate the value thousands of times, 15 years later and put that on legal doc's committing fraud, but say, 'too bad, the purchase date was 15 years ago so even though the fraud was committed this year, you cannot prosecute due to the Statute of Limitations'.

That is not how it works. It is when the crime is done, that matters.
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So you are telling me financial institutions did not get appraisals? HAHAHAHAHA
 
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