The New York attorney general’s office has filed judgments in Westchester County, the first indication that the state is preparing to try to seize Donald Trump’s golf course and private estate north of Manhattan, known as Seven Springs.
Dumb question… what happens after the property gets seized?
What happens to the tenants, the Trump businesses operating in those buildings, the non-Trump businesses operating in those building, property management employees, etc?
Tenant laws differ by state. Some could be evicted if the new owner doesn’t want them. Some have protections that would force the new owner to continue renting until end of lease or some grace period.
Businesses inside the properties probably have contracts with new ownership stipulations. But these are Trump contracts, so I assume there are lot of shenanigans, so your guess is as good as any.
Dumb question… what happens after the property gets seized?
What happens to the tenants, the Trump businesses operating in those buildings, the non-Trump businesses operating in those building, property management employees, etc?
How does this work?
Tenant laws differ by state. Some could be evicted if the new owner doesn’t want them. Some have protections that would force the new owner to continue renting until end of lease or some grace period.
Businesses inside the properties probably have contracts with new ownership stipulations. But these are Trump contracts, so I assume there are lot of shenanigans, so your guess is as good as any.
They get a letter with a new bank account number to pay the rent into.