Trademark is odd.
Try to find some way that you could use it that would not be confused with the original owner.
i.e. if you grabbed playboy.com, then put up a page saying "Boy's Theatre Group play series site coming soon."
I'm no lawyer, but you don't want to look like a squatter. Having a non-competing use for the domain may put you on better ground when you try to sell it back to them.
---also---
I've had domains "stolen" and they asked for $1800. They figured that was the minumum it would cost me to use the law to get it back.
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HAL on TEDx:
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