COULD NEW YORK REALLY SEIZE TRUMP’S ASSETS?

Indeed. Gregory Germain, a law professor at Syracuse University, stated that the state “could levy and sell his assets, lien his real property, and garnish anyone who owes him money” in the event that Trump is unable to pay his debts. When a defendant does not have access to sufficient funds to pay a civil penalty, it is usual for the court to seize assets as a legal strategy. In a well-known instance, the Heisman Trophy that belonged to O.J. Simpson was taken away and put up for auction in 1999 in order to satisfy a portion of the $33.5 million wrongful death judgment that was issued against him.

Trump may be able to escape having his assets seized if he is in possession of sufficient cash or if he is able to free up sufficient cash to pay his penalty and the interest that is accruing. “We will seek judgment enforcement mechanisms in court, and we will ask the judge to seize his assets,” James, a Democrat, said in a recent interview with ABC News. “If he does not have funds to pay off the judgment, then we will seek judgment enforcement mechanisms in court.”

However, that won’t take place the moment it arrives. Any attempt to seize control of Trump’s bank accounts, stock portfolios, or properties, such as golf courses and skyscrapers, would be carried out through the judicial system. This would include the use of liens and foreclosure procedures. It is not enough for state officials to just walk up to Trump Tower with shackles and padlocks; they also have the ability to issue subpoenas that require Trump to give information regarding his assets and finances. It is then possible for them to make use of such information in order to seek the acquisition of his property and possibly sell it at auction.

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