Many people pay thousands of dollar, if not tens of thousands, for engagement rings and wedding rings. These are incredibly expensive investments and symbols of the couple’s relationship as they move toward marriage. Some couples pick the rings out together, while others make the purchase independently.
However, these relationships sometimes end. Those who have invested so much money in a ring may wonder what happens to it at this time. Does it belong to the person who purchased it so that they can return it, meaning the receiver has to give the ring back? Or does the person who received the ring as a gift get to keep it because it was given directly to them, granting them exclusive ownership rights?
It depends on when the relationship ends
Often, the key is when the relationship ends and how that takes place. This is because rings are often considered conditional gifts. They are gifts, but they are given with certain stipulations that must be met—specifically, that the couple has to get married.
In other words, if the couple is engaged but breaks it off before getting married, the person who bought the ring often still owns it. The condition of marriage has not been met, so the gift must be returned.
On the other hand, if the couple gets married and then gets divorced, the person who received the ring likely gets to keep it. They met the condition of getting married, even if that marriage did not last forever.
Complex property division
Issues like this can make property division complex and contentious. If you are involved in this process, make sure you know what legal steps to take.