Engagement rings and wedding rings can be very expensive. Many people spend thousands of dollars. Some people even take out payment plans and repay the debt over time, similar to the way that they would buy a car.
Because these rings are so expensive, and because they are a symbol of the marriage, things can get contentious if the couple decides to get divorced. How does the law address these rings at the end of a marriage?
Conditional gifts
Often, the law considers an engagement ring to be a gift, but it is a conditional gift. If the condition is not met, then the recipient does not necessarily own the gift. They would if the ring had been given unconditionally, but that is not the case.
For example, with an engagement ring, the condition is marriage. The person is being offered this expensive gift only if they agree to get married. Often, if a couple breaks off their relationship while they are still engaged, that person has to return the ring. Even though it was gifted to them directly, they do not own it.
However, once a couple gets married, that condition has been met. This is where things get complicated with a divorce. Since the condition was met, the recipient does own the ring, so they may not be obligated to return it. They may not want to keep it, so many divorced couples will sell their rings after the marriage ends, but they do not necessarily have to return it to their former spouse.
There are many complex property division issues to address during a divorce, and this is just one example. Couples who are going through the process need to understand their legal options.