An engagement ring is viewed as a symbol of love and a couple’s commitment to one another. However, when a marriage ends in divorce, it begs the question: who keeps the engagement ring? For legal advice and representation during your divorce, reach out to a skilled Suffolk County property distribution lawyer.
What is Property Distribution?
Many decisions have to be made during the process of divorce. Especially with marriages that have lasted years and years, untangling two lives can be complex and messy. In addition to alimony, child custody, and child support, the couple must determine how their assets will be divided between them.
Property distribution can be handled in mediation by the couple themselves or in a court by the judge. Through mediation, the couple can come up with a flexible solution to suit their needs, but a judge will make the ruling that they see fit.
Who Keeps the Engagement Ring After a Divorce?
Divorce can be messy, especially when it comes to asset division. If the couple is cordial enough, the recipient of the engagement ring may decide to return it to their spouse, particularly if it is a family heirloom or has sentimental value. However, they may wish to keep it as a reminder of the relationship.
Legally, only marital assets are required to be divided between the spouses. Individual property that was owned or acquired before the marriage will not be split up. Engagement rings are given as a gift from one person to another before they are legally married. This makes the piece of jewelry a separate asset owned by the recipient and not subject to property distribution.
In the past, courts have ruled that engagement rings are conditional gifts. They are given by one spouse to the other under the condition that they will get married. However, the condition is not that they will stay married. Once they legally wed, the condition has been met and the ring becomes the recipient’s non-marital property.
How Can Mediation Help Make this Decision?
Mediation is a popular resource that couples use when going through a divorce. The process allows them both to hear each other out and communicate their wants and needs clearly. If the pair are amicable enough to work together to divide property it can be beneficial and result in unique solutions.
During mediation, the recipient of the ring may express why they desire to hold onto it or if they are willing to give it back. The spouse who proposed will have the chance to explain why they do or do not want the ring back.
The couple can even come up with a solution to fit both of their needs, like selling the ring and splitting the profits. Mediation allows the two to come to an agreement uniquely suited to their needs.
For more information on your rights as the giver or recipient of the engagement ring, speak with an experienced attorney at Peter V. Mandi & Associates, Inc.
