Do I Have To Return The Engagement Ring During a Divorce or Broken Engagement?
When it comes to dividing assets in a failed engagement or marriage, one of the more controversial items of interest is the engagement ring. Many people have varying views on who they feel should be entitled to the ring in the case of a broken engagement or divorce. For this reason, the law regarding this asset generally differs from state to state. Before selling or returning an engagement ring, it’s important to know the law in your state.
In Nevada, the general rule is that an engagement ring is seen as a conditional gift. This means, the item is not seen as a true gift until a condition has been met. In this case, an engagement ring in Nevada is considered a gift on the condition that there is a marriage. Therefore, if there is no marriage, the ring must be returned to the person who gifted the ring.
However, the opposite is true if a marriage later dissolves into a divorce. At the point that the condition of marriage is met, the ring forever becomes the property of the spouse it was gifted to. Regardless of divorce, that spouse is entitled to keep the ring as a true gift.
Do remember, many states have different views on this topic, therefore the above are merely general rules for the state of Nevada. If you have questions regarding division of assets in Nevada due to divorce, or a called off engagement, please do not hesitate to contact our office for additional information. To schedule a consultation, contact us at (702) 998-1188, email@example.com, or schedule a consultation online.
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