Trump says he may have to sell property to pay $454 million fine

Donald J. Trump on Wednesday offered the New York appeals court a bond of just $100 million to suspend the more than $450 million judgment in his civil fraud case. He said he may have to sell some of his properties unless he gets an exemption.

It was a stunning admission that Mr. Trump, who is racing against time to either secure a bond from a company or produce the entire amount himself, does not have the resources to do so. Without bail, the New York attorney general’s office, which brought the fraud case, could try to collect money from Mr. Trump at any time.

Trump’s lawyers also asked the court to delay a wide range of other sentences imposed by the judge in the fraud case in his ruling earlier this month. They include a ban on obtaining a loan from a New York bank for three years and a ban on operating a business in the state for the same period.

An appeals court judge heard Mr. Trump’s request on Wednesday afternoon and was expected to make a decision shortly afterwards. If the judge were to grant the pause, it would only be temporary; Trump would still have to convince a larger panel of appellate judges to suspend the verdict.

In seeking damages, Mr. Trump’s lawyers announced that they would not be able to secure bail for the full amount, raising the prospect that he could soon default on the verdict if the appeals court rejects his request. Without delay, Trump’s lawyers warned, he would likely have to sell some of his New York properties “under exigent circumstances,” which would be a blow to the former president.

“The exorbitant and punitive amount of the judgment, coupled with an unlawful and unconstitutional blanket ban on credit transactions, would make it impossible to secure and disburse full bail,” the lawyers wrote.

Posting a bond for the full amount would prevent the attorney general, Letitia James, from collecting the judgment until Mr. Trump’s appeal is resolved. Under New York law, Ms. James can seize Mr. Trump’s bank accounts and potentially take control of his New York properties.

Ms. James based her case on the accusation that Mr. Trump fraudulently inflated his net worth by as much as $2 billion.

Mr. Trump’s net worth comes largely from real estate, not cash. Last year he had more than $350 million in cash, as well as stocks and bonds that he could quickly sell, according to a recent New York Times review of his financials.

But the sum of the judgment in the civil fraud case and the $83.3 million judgment Mr. Trump faces in a defamation lawsuit involving the writer E. Jean Carroll far eclipses his stash of cash.

In its own filing, Ms. James’ office asked the appeals court to deny Mr. Trump’s request.

“Defendants’ assertion that a full bond or surety is not necessary because they are willing to make a partial commitment of less than one-quarter of the judgment amount is incorrect,” the attorney general’s office wrote. “Defendants are all but conceding that Mr. Trump does not have sufficient liquidity to meet the judgment.”

This is a developing story and will be updated.