President Trump is moving out! OK! has learned that there will be some big changes for The Donald when he leaves office. Forms submitted in Palm Beach last year reveal that both he and First Lady Melania Trump will no longer reside in their Trump Tower apartment on Manhattan's famed Fifth Avenue and are moving to Mar-a-Lago.
The pair elected to switch their state of residency last year from New York to Florida. It is unclear why they chose to do this, though it might have been a political move. If President Trump had wanted to replace Vice President Mike Pence and run with his daughter Ivanka, one of them would have had to change their state of residency. That is because the only two qualifications required of any vice-presidential candidate is that they are over the age of 35 and from a different state than the president.
President Trump and the First Lady have made Mar-a-Lago their permanent home, which is no real surprise given the comments the commander-in-chief has made about New York City. It is a feeling that is mutual among a majority of the city's residents after President Trump's first term in office, which could explain why on this same form he and the First Lady did not list their apartment as one of their other residences.
In both cases, when asked to list "the place or places where I maintain another or other place or places of abode," they listed the White House and their home in New Jersey at the Trump National Golf Club Bedminster. Their three-floor penthouse at Trump Tower was not the only residence missing from the form either, as there was also no mention of their mansion in Westchester, N.Y.; two properties in Sterling, Va.: a villa in the West Indies; and the two other homes Trump owns in Palm Beach.
This seems to suggest that President Trump is moving because he is looking to downsize his personal holdings once he leaves office. And he could certainly use the money.
The combined value of those seven properties is approximately $125 million, which would pay off some of the debt President Trump has coming due in the next few years. The New York Times revealed just last month that President Trump is $421 million in debt. President Trump responded by calling that debt a "peanut."