AU

"FYI: Trump doesn't "own" 40 Wall Street. He owns 30% of the lease of the building. Same for other Manhattan high rises. GMAC owns Trump Tower, for instance."

If Trump Org doesn't actually own Trump Tower or 40 Wall Street, etc., are you saying that the only thing New York State can seize are leasing agreements. And the sale of Trump Org New York assets will be leasing agreements and Trump's apartment.

If so, I can see why he's having trouble raising money for the appeal.

Assuming it's true that tenants are moving out, that means the leasing agreements are white elephants.

That almost doesn't sound right, except for the fact that it would put Trump Org out of business in the State of New York.

REDIAL and AU

Shocking is more like it. The public was led to believe that Trump "properties" meant brick and mortar buildings were going to be seized and fire-sold.

I'm disappointed that such is not the case, but still gratified Trump Org is out of business.

I'm still mystified how Trump Org could have secured such large mortgages on buildings that he doesn't own. Or that leasing agreements, apartment ownership and property management contracts, however inflated, would even be eligible for mortgages.

A lot was made over the fact that to secure more mortgage money, Trump added two extra floors to Trump Tower that didn't even exist. I wonder how that happened. And where were the actual owners of any of Trump's non-ownership of properties when this was going on.