You need to login in order to like this post: click here
An engagement ring can be a valuable asset for many couples, carrying both deep meaning and a significant monetary value. If the engagement or marriage breaks down, who is entitled to keep the engagement ring?
It is important to note that the laws of each state differ on this subject. In Massachusetts, an engagement ring is typically viewed as a conditional gift, meaning that the engagement ring given from one person to another represents a promise to marry. So, the promise has not been fulfilled until the couple is actually married. It is also true that if the wedding does not occur, then the engagement ring should be returned to the spouse who presented the ring. It is important to note that this is not a hard and fast rule, and that the surrounding circumstances when the ring was given, and what caused the breakup will likely be considered should the matter go before a judge. For example, if the engagement ring is presented to the recipient on a calendar holiday, then it could be considered both an “unconditional” gift and “conditional” gift at the same time. If the engagement ring is given on the recipient’s birthday, then it could be considered an unconditional gift, and likely does not need to be returned. If one party is solely responsible for the breakup of the relationship due to cheating or abuse, the ring will usually go to the party with no fault.
If the parties are already married and are going through a divorce, any fault in the marriage usually does not affect ownership of the ring. Once the couple enters a marriage, the condition to marry has been is met and the gift is complete. Once the couple is married, the ring is part of the division of assets because it is considered marital property (as is all other jewelry given during the marriage).