Did you receive an engagement Ring by your other half? Did one of you call off the wedding?
There are so many people out here asking do I have to return my engagement ring? In this article I will explain to you and whether or not you have to give your engagement ring back if you call off the relationship or marriage.
What is considered to be a Legal Gift?
As we learned at an early age that if you give someone a gift, you shouldn’t expect it back. There’s nothing different between then and now, so if you offer someone an engagement ring, with the intention of giving it to your partner as a gift, and if your partner accepts it, you shouldn’t expect the ring back if you break up.
What is a Conditional Gift?
There are many legal world, there are always exceptions to the general rule. Courts typically treat an engagement ring as a "conditional gift," which means you must meet a future condition before you can consider the gift to be yours. A typical example of a conditional gift is where a relative creates a trust fund for a child, on the condition that the child can’t use the funds until the age of 18 and graduates from high school with a certain grade point average. If the child turns 18 and fails to graduate or meet the grade requirement, the trustee won’t disperse the funds from the trust.
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