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Trump’s real estate lawsuit has shocked the nation, and observers across America are reacting in various ways. Putting politics aside, it is important to consider how this might affect New York’s real estate world. Could you face similar consequences for inflating the value of your real estate assets – even if you did so accidentally?
Kevin O’Leary Voices Concern for the New York Real Estate World
While many are celebrating the ruling against Trump, others are not so enthusiastic. One of the more skeptical concerns was voiced by Kevin O’Leary, who believes that the ruling may have negative consequences for the real estate industry in New York. The famous Shark Tank judge believes that the ruling will be successfully appealed. Perhaps more importantly, he stated: “The fact that he was found guilty, you might as well find guilty every real estate developer on Earth.”
This is in line with one of the most frequently voiced criticisms of the charges – one that the former president’s legal counsel undoubtedly raised in court: Inflating the value of properties is a very common practice in the real estate industry. O’Leary went on to ask: “What developer doesn’t ask for the highest price valued for any building they built?”
Regardless of your political stance, it is important to understand the implications of legal precedents. Critics say that if this ruling stands, many real estate developers could also face the same penalties. After all, everyone is supposed to be treated equally by the justice system in the United States. O’Leary noted that “It’s not about Trump,” and that the verdict has sent a “shockwave” through the New York real estate world. Some developers are reportedly considering whether or not to leave the State, as they fear they might face similar consequences after Trump’s verdict.
Trump’s Real Estate Issues are Dominating Search Results
If one thing is clear, it is that this real estate verdict is one of the most famous in American history. In fact, it is such a major story that it seems impossible to find any other information related to real estate legislation in New York. Developers may find it difficult to find a qualified real estate lawyer, as searching for “real estate lawyer New York” simply inundates you with endless stories about Trump. Interestingly, searching the Google archives prior to the 2016 elections produces no similar rulings against those who inflated real estate assets.
Find a Qualified Real Estate Civil Defense Lawyer in New York
If you are facing civil lawsuits as a result of your real estate operations in New York, it makes sense to get in touch with an experienced real estate lawyer as soon as possible. Choose the Glassman Law Group today to assess the legal implications of your real estate operations in more detail – and defend yourself against allegations of real estate fraud with confidence.