Pool

[PolishMan]

I put up an above ground pool for the kids approx. 1.5 years ago. $ 3500.00
dollars.
Filing chapter 7 soon. On the paperwork for the lawyer it ask about pools .
How much should I list as a value ? Are they talking about nice inground pools ?

How would they come get the inground or they could take down the above ground. I am sure I am overthinking this.

Why would pools be listed on assets form ? Thanks

[justbroke]

It's an asset because it's personal property and worth $$$. As to what the value of an "installed" above ground $3,500 pool is worth, you'll have to check into that yourself. I wouldn't think it's even worth $1,750 let alone $1,000 at this point in time.

[Mensa1]

You wouldn't find someone to pay 250 bucks for an above grd pool. Once torn down they never seem to go back together. I have seen a few of them (nice ones too) sell for 50 to 100 bucks, nothing more. Of course the Bk court may not buy that amt, but I would list it at 300 bucks tops.

[forgotten]

I put up an above ground pool for the kids approx. 1.5 years ago. $ 3500.00
dollars.
Filing chapter 7 soon. On the paperwork for the lawyer it ask about pools .
How much should I list as a value ? Are they talking about nice inground pools ?

How would they come get the inground or they could take down the above ground. I am sure I am overthinking this.

Why would pools be listed on assets form ? Thanks

An inground pool is not considered an asset. It does add value to home however. Well, it always adds value to the tax man, it can add, stay the same, or deduct from the market value depending on the area you are in.

An above ground pool on the other hand is considered personal property. As such, it would be an asset that needs to be listed. As pointed out, the resale value of an above ground pool is not going to be very much.

[AngelinaCatHub]

More than likely the Trustee would abandon that item. It is not worth an attempt to convert it to cash. List it for what you would buy it today for in the condition it is in today. 'Hub

[jdcat]

We have an above ground pool that I listed for $300. Its a 24 foot round 54 inch deep. It sprung a leak this winter and may have to be taken down this spring if the leak is anything more than a small rip in the liner.

I really thought $300 was a fair price for a six year old above ground pool in a dismantled state, which would include the pump and all accessories. I know that if it were us and we were looking for an above ground pool and were able to afford the liner and sand $300 would be a great deal. But I don't think we could get much more than that. Also I think the size matters. For something fairly small I don't think the used value would be as high. Ours is pretty big.

p.s. I don't know the original price for our pool. It was given to us. We took it down at the owners house, moved the parts to our house, leveled our yard by hand ourselves, and put it up. It cost us the liner, the pad beneath the liner, and the sand. That was a good deal! : -)

[OhioFiler]

We have an above ground pool that I listed for $300. Its a 24 foot round 54 inch deep. It sprung a leak this winter and may have to be taken down this spring if the leak is anything more than a small rip in the liner.

I really thought $300 was a fair price for a six year old above ground pool in a dismantled state, which would include the pump and all accessories. I know that if it were us and we were looking for an above ground pool and were able to afford the liner and sand $300 would be a great deal. But I don't think we could get much more than that. Also I think the size matters. For something fairly small I don't think the used value would be as high. Ours is pretty big.

p.s. I don't know the original price for our pool. It was given to us. We took it down at the owners house, moved the parts to our house, leveled our yard by hand ourselves, and put it up. It cost us the liner, the pad beneath the liner, and the sand. That was a good deal! : -)

That made me laugh.

[jdcat]

It's true.

[momofthree]

I'd say definitely less than $500.

Trustee wants to know what HE could sell it for at auction. Chances are, not much.

[AngelinaCat]

Here is a thread discussing a similar situation with an above-ground pool. In this case the questions revolved around was the pool considered an individual asset, or was it included in the overall valautipn of the home:

http://www.bkforum.com/showthread.php?t=25005&highlight=above+ground+pool+momof5

I hope this helps!

[jdcat]

On the website for our county tax assessor our pool is listed as an improvement so must be considered part of our homes total value. I hadn't thought to check that until now. Might be worth looking into for others.

[Mensa1]

You could just invite the T'ee over for a swim and let him/her decide. NOT.