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If he doesn't win on appeal, bankruptcy remains an option, though the former president is reluctant to accept it.
Donald Trump's legal team and the New York Attorney General's office are working hard ahead of the former president's March 25 deadline to secure bail for the multimillion-dollar civil fraud trial.
Trump personally owes the state more than $454 million according to a ruling by Judge Arthur Engoron in February. The figure rises to $463.9 million if money owed to his sons, Eric and Donald Jr., is included.
Experts who spoke to CNN say Attorney General Letitia James and her staff should be ready to begin the complicated legal maze of seizing Trump's assets if the former president does not provide the bonds needed to cover Engoron's decision, until how much Trump appeals.
Assets, such as buildings, houses, cars, helicopters and his plane, are in play. The main focus may be on his bank accounts, which experts say will be easier to hold, while properties would be more difficult.
Trump has asked a state appeals court to allow him to post a lesser bond — or none at all — arguing that he would face irreparable harm if forced to sell the properties, which cannot be undone if he eventually wins his appeal. The court has not yet decided.
But what happens if Trump can't provide the money needed for the guarantee?
Seizure of bank accounts and cash
In theory, officials could begin the complicated legal process of seizing his assets, barring any further strategic legal maneuvering by state prosecutors and pushback by Trump's legal team. Officials will have to weigh what assets they want to take, whether it's his bank accounts or his properties. Experts believe that the first action should be to seize his bank accounts.
Taking money from Trump's accounts requires state prosecutors to ask the New York City Sheriff or a U.S. Marshal to enter the main branch of any bank where Trump keeps his money, with a court order.
" They go in and give it to the manager. The manager has to pay the amount right away. It has to be a check ," said Adam Pollock, a former New York State assistant attorney general.
What about buildings and businesses?
"Seizure of property takes much longer. Once state prosecutors figure out what property they want to seize, they give the sheriff's office a writ of execution, along with a $350 fee. The sheriff then posts notice of the property in three places, and the attorney general's office must proclaim it four times. Then, in 63 days from when the writ of execution is served on the sheriff, a public auction is held for the property ," Pollock said.
The forfeiture process will be more difficult with Trump's assets overseas, so state prosecutors have already made several legal moves to get the ball rolling in New York.
The attorney general's office filed the warrants in Westchester County, north of New York City, in what some say is the first sign the state is laying the groundwork to seize the former president's Briarcliff Manor golf course and estate. his private known as Seven.
Attorneys for the state entered into pleas with the Westchester County Clerk's Office on March 6, just a week after Engoron's ruling.
What about the Mar-a-Lago complex?
No other lawsuits have been filed, but the process could take place in other states where Trump has assets, particularly Mar-a-Lago in Florida, although other properties may be less challenging to obtain.
A key legal battle could be how much of Mar-a-Lago is considered Trump's home, which can be protected under the law.
“The Attorney General's office is the largest firm in the state of New York, if you think of it as a law firm. The office has zero attorneys in Florida. I would see execution on New York properties before you see anything in Florida. At the heart may be the extension of the house. But that would have to be played out in court ," said Pollack.
Can Trump get out of this?
Trump is still waiting to see if an appeals court will either reduce the amount he must pay as part of the settlement or halt the ruling.
If he doesn't win his appeal, bankruptcy remains an option, though the former president is reluctant to accept it.
" You don't want him to go bankrupt, then the debt will be discharged. If he files for bankruptcy, then the judgment is automatically stayed. Bankruptcy is the biggest enemy of collection enforcement for attorneys ," said attorney Alden B. Smith who specializes in debt collection.
If Trump can't find the money, his options shrink significantly. Trump and his team may sell smaller properties as a way to meet the debt.
" At the end of the day, he's going to do anything before he allows Tish James to put a metaphorical padlock on 40 Wall Street ," Harry Litman, a former deputy assistant attorney general, told CNN on Friday.
Does Trump have the money?
The former president posted on Social Truth on Friday that he currently has almost $500 million in cash that he intended to use for his campaign.
"Through hard work, talent and luck, I currently have almost five hundred million dollars in cash, a significant amount of which I intend to use in my presidential campaign," Trump wrote, among other things, as he attacked the judge who gave the decision.
His lawyer, Chris Kise, told CNN that Trump was not referring to the money he has on hand.
" What he is talking about is the money reported on his campaign disclosure forms that he has generated over the years of owning and managing successful businesses. That's the money that Letitia James and the Democrats are targeting ," Kise told CNN on Friday. That's the money Letitia James and the Democrats are aiming for.
Trump also recently had to post a nearly $92 million bond to satisfy the judgment against him in the E. Jean Carroll defamation case while he appeals the decision./ Adapted "Pamphlet" from "CNN"
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