Damages for Conversion: Everything you need to know
In a conversion case, the rewards sought by the plaintiff are damages for conversion. They serve as restitution for genuine losses of personal property. An individual’s right to use or possess their personal property is taken away by conversion. It is frequently described as interfering with someone’s right to their property without that person’s consent and without a valid legal reason. Some examples of conversion damages include:
- Value of the property: If someone took or utilized their property without authorization, the owner might be entitled to compensation for it.
- Loss of use: The owner may be entitled to compensation if they were unable to utilize their property while it was being converted.
- Costs of recovery: If the owner had to file a lawsuit to regain possession of the property, they might be entitled to reimbursement for related expenses, including legal fees and court costs.
- Loss of revenue: The owner may be entitled to compensation if the conversion caused them to lose income, such as rental income from a property.
- Punitive damages: In some circumstances, the court may grant punitive damages, which are meant to penalize the convert and discourage others from doing the same.
The court considers the property’s value at the time of the conversion to determine damages. Therefore, if your neighbor destroyed a $1,700 racing bike you purchased five years ago, the court will set the damages at the used racing bike’s fair market value. This may not provide enough restitution from the offender to replace the converted property.
Statutory laws have taken the place of common law legal remedies. State laws specify an owner’s rights, the types of damages that may be sought, and how damages are computed. Punitive damages or exemplary damages may be awarded by some courts to punish offenders for their malicious or dishonest actions.
A statute of limitations is a time limit within which a lawsuit must be filed. The statute of limitations for civil cases is determined by each state. In general, claims for intentional tort must be made within three to six years following the incident. Your claim will be rejected if you submit a conversion claim after the statute of limitations has passed.