Hi, last June when I moved into the apartment I currently moved out of, they had a television in the common area that didn't work, yet were paying for cable television. I offered to pick up a TV, a TV I paid for with my own credit card and brought home and set up myself. The price of the TV was split 4 ways, 3 roommates and myself. One of the roommates left in September. One of the others is leaving in the next 6 months, and she stated she just assumed that the TV would stay in the house. Seeing as I procured the television, and paid interest on it, I would think I would have some sort of claim over it. Buying out the two of them what they paid doesn't make much sense to me, if I were to do so, and then turn around and sell the television, I doubt I'd even get back what I paid them. Now my question is, who has ownership of the television, and specifically, what do I need to do to get it back?
2007-02-21 03:10:11 · 4 answers · asked by stevece80 2 in Business & Finance ➔ Renting & Real Estate
Hi, last June when I moved into the apartment I currently moved out of, they had a television in the common area that didn't work, yet were paying for cable television. I offered to pick up a TV, a TV I paid for with my own credit card and brought home and set up myself. The price of the TV was split 4 ways, 3 roommates and myself. One of the roommates left in September. One of the others is leaving in the next 6 months, and she stated she just assumed that the TV would stay in the house. Seeing as I procured the television, and paid interest on it, I would think I would have some sort of claim over it. Buying out the two of them what they paid doesn't make much sense to me, if I were to do so, and then turn around and sell the television, I doubt I'd even get back what I paid them. Now my question is, who has ownership of the television, and specifically, what do I need to do to get it back?
One note on one that moved out, she's moved back to the Netherlands and is long gone.
2007-02-21 03:35:18 · update #1
It sounds like you can prove you paid for the TV, since it was on your credit card, and the credit card and your name should appear on the receipt for the purchase.
Therefore, you own the TV.
Unless the others can prove that they paid you, either with cancelled checks, PayPal transfer, receipt, etc. If they do not have proof they paid for the TV, then they will have a tough time claiming ownership of the TV.
If you were to buy them out of the TV, it should be for its fair market value right now -- not what it was worth brand new. The same would happen if it was a car or a house you were talking about. If the thing was sold and the proceeds were split up, the sales price would reflect current value, not purchase price.
The TV has depreciated since you bought it, and is no longer worth what it was brand new. Theoretically, if you buy them out of the TV and turn around and sell it, you should get some money back, which would reflect your amount of ownership of the TV.
But that's only if they can prove they paid you for a partial ownership of the TV. Otherwise, the money may be a gift or rent or lease, whatever. If it's not in writing, it usually doesn't exist.
Good luck.
ForeclosureFish
http://www.foreclosurefish.com/
2007-02-21 10:22:22 · answer #1 · answered by Anonymous · 1⤊ 0⤋
If the cost of this TV was split four ways then you need to buy out the other renters interest in the television if you want to own it outright. If you did not charge them their share of the interest that is your fault not theirs.
Just remember, a television ages over time so that you would not owe them for the new price but instead a pro-rated price or a percent of the new price. Since it has been almost a year, I think you can deduct 20% as the lifespan of a television is 5 years.
If you bought this television even with partners you have the option of removing the television and compensating the others. You do not have to leave it in the apartment when you leave. The new renters or other renters would have to buy a new one.
2007-02-21 11:42:00 · answer #2 · answered by Nevada Pokerqueen 6 · 0⤊ 0⤋
All four of you paid for the television, therefore, the TV belongs to the group.
For you to get ownership of the TV, you will need to pay the other 3 for it. I don't think you should have to pay them what they paid you (the TV has since gone down in value). But you should at least give them 80% back.
2007-02-21 11:23:05 · answer #3 · answered by Go Bears! 6 · 0⤊ 0⤋
Keep it simple:
Sell the TV and split the proceeds evenly between the remaining roomates.
2007-02-21 17:07:35 · answer #4 · answered by The Drew 4 · 0⤊ 0⤋