Musical artist Prince won't be getting back $83,481 of a $150k security deposit that the pop star plunked down for a Beverly Hills mansion, RadarOnline.com has learned.

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Judge John Kronstadt made the ruling Wednesday following a nonjury trial in Los Angeles involving a dispute over money Prince allegedly owed for utilities.

The judge denied the landlords $17,450 in claims for an allegedly broken air-conditioning system and fountain, but said they could keep a portion of the deposit.

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He went on to say that there was insufficient evidence to support that Prince had caused the alleged damage.

The amount of nearly $85k was to cover the utilities during Prince's time that he lived at the mansion.

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Judge Kronstadt set a further hearing for October 14th to hear any objections to his ruling.

The man known for saying "Let's do it" is taking action himself - by moving into a new Beverly Hills mansion - and RadarOnline.com has an exclusive photo.

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Dr. Phil McGraw has purchased "a French Mediterranean style home that he and his wife Robin have been admiring for years," a source close to the situation tells RadarOnline.com exclusively.