In “So, Could the New York Attorney General Seize Mar-a-Lago? It’s Complicated.” (Slate, March 21, 2024), Slate discusses former President Donald Trumps race against the clock to secure the bond needed after losing the civil fraud case brought by New York Attorney General Letitia James. They note, “… if he fails, James can begin snapping up the former president’s most prized assets, including properties outside New York.”
When asked about the rules for collateral, Pollock Cohen partner Adam Pollock explained that bond companies typically require liquid assets, like cash or market securities, to be handed over—and will charge a 1 or 2 percent annual premium on top of that. Real estate isn’t typically used as collateral since it’s an asset that can’t be liquidated quickly.
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So, Could the New York Attorney General Seize Mar-a-Lago? It’s Complicated. | Slate
