Donald Trump took out a mortgage on a home he bought from his sister last year

The Palm Beach Daily News reported that the president’s two adult sons, Eric and Don Jr., who are running his business while he is in office, bought the more than 10,000-square-foot (930-square-metre) house last year from Maryanne Trump Barry, a former federal judge.


Beginning in 2023, the interest rate can be increased, but is capped at a 2-percentage-point increase a year, according to mortgage documents filed with the county.

The White House declined to comment on the filings.

The financial disclosures are mandated by law and offer a peek into the president’s sprawling finances.

Unlike all other modern presidents, Trump has refused to release his tax returns, which would offer a clearer picture of how much money he is bringing in. The disclosures give a glimpse of the number of properties he and his businesses own.

The new property is close to Trump’s Mar-a-Lago resort (pictured) in Palm Beach, Florida. Credit:AP

Last year in May, Trump’s disclosure form made public for the first time that he repaid more than $US100,000 to former personal attorney Michael Cohen, who had paid hush money to porn star Stormy Daniels about an affair she alleges to have had years before with the president.

Cohen was sentenced to three years in prison in December for his role in making illegal payments to women to help Trump’s 2016 election campaign and lying to Congress about a proposed Trump Tower project in Russia. Cohen reported to prison earlier this month.

The disclosure released in May 2018 also showed that Trump received more than $US25 million in income in 2017 from Mar-a-Lago and more than $US15 million in income from his golf club in Bedminster, New Jersey.

Trump spends time and vacations at both clubs and sells memberships to Mar-a-Lago. His continued ownership of the golf venues has been criticised by opponents, who say it blends personal and public business, allowing him to profit from the presidency.


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