GRAND RAPIDS, Mich. (ABC 4)- Getting divorced and wondering if you can keep the ring? Legal experts from Thacker Sleight answer this commonly asked question.
To the quote “Rules of Engagement” and the legal interpretation of the same, an engagement ring is a gift. Generally, one person buys the ring and gives it to the other, along with a marriage proposal. If the proposal is accepted, balloons fall from the ceiling, white doves are released in celebration and the wedding planning begins.
Making it slightly more complicated, in Michigan, the engagement ring is a conditional gift. Meaning the ring, the proposal, the acceptance of the same and the actual wedding must occur for the recipient to keep the ring. If any of these steps do not occur, the ring reverts to the giver.
Given this state of the law, what is a lovestruck person facing a nearly 50% divorce rate to do with a ring that is a family heirloom? The short answer is to sign a prenuptial agreement addressing who will keep the ring in the event of divorce.
Learn more information on Thacker Sleight’s website.
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