An engagement ring is a shining symbol of a committed relationship and a couple’s intention to marry. But what happens if the wedding never occurs and the relationship ends? Who legally owns the engagement ring, and does an ex-fiancé have to return it?
The answer to this question may surprise you. Reach out to our family lawyer in Denver, CO to discuss your unique case with us today.
Whether or Not You Have to Return an Engagement Ring Depends on the State
State laws handle property disputes, including when an individual seeks the return of an engagement ring they gave to a fiancée after a breakup. For this reason, whether a judge rules that a ring must be returned typically depends on the state in which the case is heard in court.
Some states, such as Pennsylvania, take the position that an engagement ring is a gift and becomes the property of the recipient, who is under no legal obligation to return it. However, other states, including Colorado, consider an engagement ring a conditional gift.
An Engagement Ring Is a Conditional Gift In Colorado
Colorado sides with the majority of states that consider an engagement ring a conditional gift rather than a pure gift. A conditional gift comes with terms, similar to a contractual agreement.
Under this understanding, when an individual (the donor in the case) gives their significant other (the donee) an engagement ring, it’s with the understanding that a marriage will take place. If the couple breaks up and the wedding does not occur, the fiancée who received the ring did not fulfill the condition attached to the ring and must return it.
In most cases, Colorado courts will award the ring to the donor, the person who gave the ring as a conditional gift during an engagement.
Why Go to Court to Demand the Return of an Engagement Ring?
According to a George Mason University study, around 250,000 marriages are called off in the U.S. each year. While not every ring-giver seeks the return of the engagement ring, a significant number of people ask their ex-fiancé to return the ring.
The average engagement ring costs about $5,000. Most engagement rings sold in Colorado range from $5,000 to $8,000, making them a significant expense. When a couple breaks off an engagement, the person who bought the ring may wish to return it for a refund or resell it to recover the cost.
Less commonly, an engagement ring may be a family heirloom. Sometimes a person offers their significant other a grandparent’s or great-grandparent’s ring as an engagement ring. In these cases, the ring has both sentimental and financial value. The donor may seek the return of a family heirloom ring to keep it in the family or to include it as part of an estate or inheritance.
Is an Engagement Ring Marital Property During a Divorce?
Colorado’s divorce laws require the fair and equitable division of marital assets, which include all assets accumulated during the marriage. Although this law does not apply to engaged couples, after a marriage takes place and spouses later file for divorce, the question of whether a ring is marital property is a common one.
In most cases, Colorado courts treat an engagement ring as separate property during a divorce, belonging to the spouse who received it, because the recipient met the condition of marriage when they married the person who gave them the ring.