New York Attorney General Letitia James is aiming to seize assets from former President Donald Trump, including his Seven Springs estate and Trump National Golf Club, following his inability to post bond in a $464 million civil fraud ruling against him. The estate, spanning 370 acres in Westchester County, features a 50,000-square-foot mansion, 60 rooms, 15 bedrooms, and various amenities. Trump's golf course project at Seven Springs was abandoned, and the property has served as a family sanctuary. Meanwhile, entrepreneur Kevin O'Leary has criticized the ruling as unjust and warned of its potential impact on the real estate industry.
Texas Attorney General Ken Paxton has filed a lawsuit against the Colony Ridge development in Liberty County for deceptive trade practices, fraud in real estate transactions, and other violations of Texas and federal law. The lawsuit alleges that Colony Ridge targeted foreign-born and Hispanic consumers with limited access to credit, made false promises about land and financing, and misrepresented the conditions of the land and community. The predatory practices have led to a foreclosure rate 50 times greater than the national average, causing unjust harms to nearby communities.
The U.S. Supreme Court declined to hear challenges to New York's rent stabilization laws, which cap rent increases on about 1 million apartments citywide, brought by landlords who argued the regulations prevented them from evicting tenants after their leases expired. The court's decision not to take up the case leaves the possibility of future challenges open. Landlord groups are urging state lawmakers to revise regulations that limit rent increases on vacant apartments and apartment renovations, while lawmakers are open to reviewing rules capping increases related to individual apartment improvements. Gov. Kathy Hochul stated that the regulations are crucial tools to fight inequality and preserve affordability.
The Supreme Court declined to hear challenges to New York's rent stabilization laws, which impose strict rules on landlords leasing some units, meaning the laws will stand. The laws, which apply to buildings with six or more units built before 1974, limit rent charges and lease renewals, and make it difficult for landlords to convert rental units into condominiums. Landlords argued the laws violate the US Constitution, but lower courts ruled against them. The city's lawyers argued the laws protect tenants and communities, and the Supreme Court declined to intervene, leaving the rent stabilization laws in place.
