Many people get excited about their new engagement. So excited that they don’t even realize that the day they get engaged could help them even if the engagement doesn’t last until the wedding bells ring. Here at Verma Jewelry, we embrace love to its fullest, but we also know there are times when a separation may require different assistance than the sale of a diamond engagement or wedding ring to the soon-to-be newlyweds.
When it comes down to the facts of the matter, a separation is painful enough especially after agreeing to marry your former significant other. There’s no time to worry about who gets the rings and the courts varying views on this issue make it even more difficult. Thankfully we’ve seen this issue a time or two, and this post should help make things a lot clearer than they were before.
If you get a New Year’s proposal, just keep the ring.
Keep in mind that different localities may have different ways of doing things. Always check with your attorney and regulatory agencies when unsure about what you can and can’t do. However, when you receive an engagement ring on New Year’s it’s commonly seen as a gift given during a holiday (Christmas, New Year’s, Valentine’s Day, etc.) where give-giving is the “norm.” Rather than a conditional gift, which engagement rings have been known to be classified as by the courts, receiving it on a gift-giving holiday makes it an unconditional gift.
For those who aren’t too familiar with the legalities of gifts, it’s not as complex as you might think. In fact, we decided to break it down for you in the next section. Hopefully this gives you the insight you need to make the process as painless as possible.
The gifting rules vary, but you do need to understand them.
Dealing with a breakup is a lot to put on anyone’s plate but having to face consequences over legalities can make it even worse. Therefore, you need to study the gifting laws within your state as well as your country to ensure that the engagement ring doesn’t become a legal hassle.
There are two different ways that an engagement ring is looked at. The first one is where the engagement ring is a gift given under the condition that marriage will take place. Regardless of who calls off the engagement, these states require the engagement ring to be returned to the one who originally gifted it. These states include, but aren’t to be limited to:
- New Jersey
- New Mexico
- New York
There are two other ways that an engagement ring can be looked at. You’ll find in states such as California, Texas, and Washington that if the one who proposed doesn’t break the engagement off, they’re entitled to request the return of the engagement ring. This is what’s referred to as an implied conditional gift.
In states such as Montana, it’s an unconditional gift and doesn’t have to be returned under any circumstances. If you want to get into more detail or learn more on this particular part, seek professional legal advice in your area.