Update: It appears there may have been some confusion, because moments ago the GSA now says that it has not concluded Trump would be in violation regarding the Trump Hotel, and adds that Democrats mischaracterized what GSA official said.

Here is GSA Statement, knocking down claim by House Dems that it has ruled that Trump will breach his contract on his DC hotel when sworn in pic.twitter.com/9CNK1NM1OK — Eric Lipton (@EricLiptonNYT) December 14, 2016

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President-elect Trump has until inauguration day to divest himself of all ownership interest (not just management) of the Trump International Hotel in Washington D.C. or he will be in violation of his lease, according to the agency in charge of government buildings. The lease, according to a letter from four Democrats, forbids elected officials from being party to the deal or receiving any of its benefits, makng the hotel the most visible potential conflicts of interest for Trump.

As Bloomberg reports, an official of the General Services Administration, which leases government buildings, told the staffs of the four lawmakers that Trump will be in violation of the lease unless he divests, according to a letter written by the Democrats.

"Mr. Trump will be in breach of the lease agreement the moment he takes office on January 20, 2017, unless he fully divests himself of all financial interests in the lease for the Washington D.C. hotel," according to the letter from Representatives Elijah Cummings, Peter DeFazio, Gerald Connolly, and André Carson, who had requested details of the deal.

The 60-year lease for the Old Post Office Pavilion, a U.S. government-owned building on Pennsylvania Avenue just blocks from the White House, forbids elected officials from being party to the deal or receiving any of its benefits. It has become one of the most visible potential conflicts of interest for Trump, whose international real estate and branding business presents unprecedented circumstances in which a president may remain involved in the private sector.

On Dec. 8, the deputy commissioner of GSA, from which Trump Old Post Office LLC leases the historic Old Post Office Pavilion, told the lawmakers’ representatives "that Mr. Trump must divest himself not only of managerial control, but of all ownership interest as well,” according to the letter.

The GSA "has received no communications to date from Mr. Trump’s business organization about this issue," which became public last month when two experts in government procurement wrote about the provision in the lease and urged the government to find a way to terminate it, according to the lawmakers.

As Bloomberg concludes,

The Democrats’ letter comes a day after the head of Office of Government Ethics wrote to Democratic Senator Tom Carper that Trump’s current plans don’t meet ethical standards but that the president is exempt from the relevant conflicts-of-interests laws that apply to other executive branch officials. Trump has about $3.6 billion of assets held in more than 500 companies, according to a July analysis by Bloomberg. His golf developments, tenant rosters, loans and licensing arrangements tie him to businesses and governments in 20 countries, including China and the Philippines. Trump’s three oldest children -- Don Jr., Ivanka and Eric -- were deeply involved in his campaign and have advised his transition. GSA has primarily worked with Ivanka over the last several years, according to the letter. Lawyers have said Trump may be able to shift the ownership structure of the limited liability corporation that leases the Washington hotel, allowing his children -- who currently each own a little more than 7 percent of it, according to Trump’s financial disclosure -- to split the ownership and take over Trump’s own stake of about 77 percent.

Will this be the new news cycle narrative as "fake news" and Russian propaganda fades due to its utter insanity?

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Full letter below: