Who owns Mar-a-Lago? Donald Trump may have transferred ownership of beloved Florida estate to son before fourth arrest
PALM BEACH, FLORIDA: Former President Donald Trump may have secretly transferred the ownership of his beloved Florida estate Mar-a-Lago to his son Donald Trump Jr just days before he was arrested in Georgia, according to reports.
The online property records as per RadarOnline show that Trump “sold” his Palm Beach property for $422,000,000 on August 4, but the buyer was a company called Mar-a-Lago, Inc., which is owned and managed by Trump Jr.
Why are legal experts questioning Mar-a-Lago's ownership transfer?
The transfer of ownership, even though claimed to be legal, raised suspicions among some experts, who questioned whether it was a “fraudulent transfer” to avoid potential asset seizure or forfeiture.
Andrew Weissmann, a former prosecutor and MSNBC podcast host, wrote on Twitter. “I’m seeing some reports that Donald Trump may have turned over Mar-a-Lago ownership to a company owned by Donald Trump Jr. just a short time before surrendering to Fulton County authorities.
"The value of the property was set at 442 million dollars. Fraudulent transfer?”
Fraudulent transfer? https://t.co/qKPxJnA3Qf
— Andrew Weissmann (weissmann11 on Threads)🌻 (@AWeissmann_) August 25, 2023
When was Mar-a-Lago's ownership transferred?
Zillow, an online real estate platform, confirmed that the property was listed as “1100 S Ocean Boulevard” and sold on August 4, but did not disclose the buyer’s identity.
Zillow said that its information was based on public records from county sources. The transfer of Mar-a-Lago from Trump to his son happened shortly before Trump was arrested in Georgia on August 24.
He was indicted by a grand jury for allegedly trying to overturn the 2020 election results in the state. He faced 13 charges, including racketeering, solicitation, impersonation, forgery, and filing false documents.
He posted a $200,000 bond and was released from custody. His trial date was proposed for October 23 by the Fulton County District Attorney Fani Willis, but his lawyers objected to it.
When was Mar-a-Lago bought by Trump?
Mar-a-Lago is a historic estate that Trump bought in 1985 for $10 million ($2 million for the property and $8 million for the furnishings) from the heirs of cereal heiress Marjorie Merriweather Post.
The estate has 126 rooms, including a 20,000-square-foot ballroom with $7 million worth of gold leaf. The estate is also home to a private club that charges $200,000 for initiation fees and $14,000 for annual dues.
The club has about 500 members, including celebrities, politicians, and business executives.
The estate has been the site of several historic events, such as the summit between Trump and Chinese President Xi Jinping in 2017, the wedding of Trump and Melania in 2005, and the visit of Japanese Prime Minister Shinzo Abe in 2018.