Do you have to give back your engagement ring?

On Behalf of | May 20, 2022 | Divorce |

For most Texans, engagement rings are an integral part of the marriage ritual. After all, these rings signify a promise to marry someone. If your current spouse gave you an engagement ring, you may wonder if you can keep it after your marriage ends.

Keeping your engagement ring may make good financial sense. In fact, according to the Diamond Pro, most diamond engagement rings sell for between 20% and 60% of their original value. If your ring has unique characteristics, it may even appreciate over time.

No legal obligation

You probably have no legal obligation to give your engagement ring back to your spouse or to anyone else. This is because your ring was a gift. As such, your ring is probably separate property and not part of the marital estate.

There is a caveat, however. If you have either a pre- or postnuptial agreement that covers the ring, you probably have to comply with its terms. If you do not want to return the ring, it may be beneficial to investigate whether you may be able to void the applicable agreement.

A possible moral obligation

Some engagement rings are family heirlooms. If your current spouse gave you his or her grandmother’s ring, for example, you may have a moral duty to return it. How you choose to deal with this obligation, though, is likely up to you.

If you do not want to irritate your future ex-spouse, it may be advisable to hand over the ring when your divorce becomes final. Ultimately, however, only you can decide whether returning the ring is the right course of action.