President Donald Trump is unloading some of his South Florida real estate.
Records in the Town of Palm Beach show Trump recently deeded two single-family homes he owns near his fancy Mar-a-Lago Club to two separate companies, DTW Venture LLC and DT Venture 1.
Both companies are controlled by … Trump and his family, and based in Trump Tower in Manhattan.
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The property adjacent to Mar-a-Lago on the north side was appraised by Palm Beach County authorities at $2.4 million. The beachfront property next door was appraised at $8.5 million. Trump has owned both since 1993.
The transfers of the properties were signed by Trump on Dec. 31, just 10 days before a press conference at which he announced he was handing over control of all his companies to sons Donald Jr. and Eric.
The arrangement came immediately under scrutiny as critics howled that Trump should transfer control to a blind trust managed by nonfamily members to avoid potential conflicts of interest, as many top government officials had done before him.
Yet Alan Garten, the chief legal officer for Trump’s numerous businesses, said the deed transfer is consistent with the president’s public statements.
“All his assets, including the two houses in Palm Beach, are in trusts now controlled by his sons,” Garten said. “This shows he is fulfilling his promise to separate himself from his business interests.”