When you get divorced, the marital property needs to be split up. Anything that you and your spouse own together gets divided up in an equitable way, but there are some items that can cause confusion here. One common sticking point is the engagement ring. Who does it belong to after you get divorced? Our Morris County, NJ division of assets attorneys should be able to help you with this.
Who Does the Engagement Ring Belong To?
In most cases, the engagement ring belongs to the person it was given to. If you propose to your partner and give them the ring, you’re doing it before you’re married. This makes it their property, but it’s also important to note that this is seen as a “conditional” gift. Your partner has to follow through with the marriage in order for the engagement ring to be seen as their property.
When Should an Engagement Ring Be Returned?
An engagement ring should be returned when the condition for the gift is not fulfilled. So if the couple never actually ends up marrying, then this piece of jewelry should be returned. There is usually no obligation for someone to return the ring to the person who bought it after a divorce.
What Happens if the Ring is an Heirloom?
There are cases where asking for the ring back after a divorce may make sense though. If a ring was a family heirloom, it would not be that strange for someone to ask for it back. The engagement ring is still likely to be seen as one partner’s separate property though and there may be no obligation for them to return it.
If you want the ring back, you may have to part with other property as a part of an exchange. Another option is including a clause about what happens to this family heirloom in a divorce when you write up a prenuptial agreement.
What Can Make Division of the Engagement Ring Complicated?
Some other issues can also make it difficult to determine who should get the engagement ring. If a couple shares the expense and buys a ring together, it’s no longer likely to be considered a gift. Some couples also upgrade their rings for big anniversaries. If you took an engagement ring and added to it for a fifth or 10th anniversary, that could make it marital property.
How Can a Lawyer Help?
A lawyer can help you determine whether you are in a typical situation, where the engagement ring was a gift and should be kept by its wearer, or in a more complicated one. We can help you negotiate a fair deal for the division of your property and introduce you to other methods of problem-solving, like arbitration or mediation, that might be a good fit for you and your soon-to-be ex.
Meet With an Attorney
Your lawyer can be helpful when marital property is divided up and during the rest of the divorce process. Contact Townsend, Tomaio & Newmark, L.L.C. to schedule a consultation with our team and learn more about what our attorneys can do to assist you.
