Legal Question in Business Law in Connecticut

Multiple Ownership of one item

4 people, in a band together, paid an equal portion for a $900 utility trailer. From the day it was bought (april 13, 2007), it has never

been used. Band broke up and I now have a use for the trailer. 2 of the 3 other owners won't allow me to take it for my use, as they

claim to have use for it sometime later this year. I have use for it right now and am being held back because I can't use it. I bought out

one of the three other owners.(The one not involved in this dispute). Thus, I now own 1/2 and 2 other people own 1/4 each.I offered to

buy both of them out of their 1/4 so i would then own it 100%. They responded by wanting to buy me out, instead. We're at a

stalemate and I don't know where to take the matter from here. If this is not a legal issue, here is the personal end of it:I found the

trailer before it was purchased, I fronted the cash the day we purchased it, I had to convince the other 3 people that we needed to buy

it, I offered to pay for registration and insurance, and allow all parties to still use it.They didnt agree to that idea. At this point, since the

trailer hasn't been used since it was bought, do I have the right to just hand them the full amount of

money for their portion and take it?


Asked on 1/30/09, 5:25 pm

2 Answers from Attorneys
Linda Subbloie Linda A. Subbloie, Esq.

Re: Multiple Ownership of one item

Were there any verbal agreements regarding how, when and who would use the trailer. Where is the trailer?Since you own 1/2 I don't see why you can't just take and use it. I don't think you can take over full ownership, however.

The only other solution I can think of is to file a small claims suit and request the court to order the trailer sold to you since you are a majority owner. The court may or may not do this but it's the only argument I can think of unless there are other verbal agreements regarding the trailer.

The last idea is to approach the other two owners and set up a schedule to use the trailer. You said they need it later this year and you need it now. It seems to me it should be worked out amongst you, rather than just let it sit there unused.

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Answered on 1/31/09, 6:49 pm
Linda Subbloie Linda A. Subbloie, Esq.

Re: Multiple Ownership of one item

All of this over $450.00? Just sell out and buy your own trailer.

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Answered on 1/30/09, 6:15 pm


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