Home / News in Brief / Bank challenges Trump’s bid for Kluge mansion

Bank challenges Trump’s bid for Kluge mansion

The Bank of America is asking a federal judge to block Donald Trump’s claimed right-of-first-refusal to buy the embattled Albemarle House mansion near Charlottesville.

Trump owns the front yard and other nearby properties formerly controlled by heiress Patricia Kluge, who has given up millions in assets after declaring bankruptcy in June.

Trump says his claimed right of first refusal puts him in a position to offer just $3.6 million  for the 24,000-square-foot mansion, according to a report in The Wall Street Journal. He reportedly posted no-trespassing signs in the front yard to discourage would-be buyers of the mansion house.

The bank, which acquired the house in a foreclosure sale, is asking more than $15 million for the property. BofA, through a subsidiary, now has gone to court seeking a judicial declaration that Trump’s companies do not have the right to jump in front of any prospective buyer.

“Neither Trump Acquisitions nor anyone else has any right of first refusal over the Property,” wrote Arlington lawyer Raighne C. Delaney in an Aug. 4 letter to a Trump associate.

The dispute has been assigned to Charlottesville U.S. District Judge Norman K. Moon.

By Peter Vieth

Leave a Reply