Divorce and Engagement Ring

[Canadaguy]

Well I have heard this topic a little but haven't really found any hard evidence on which is the case. Anyone care to elaborate what happens to the engagement ring in a divorce? I understand that post marriage engagement breakups it is different, and prefer to focus on marriage situations.

Case #1: Because it was a gift before marriage the value cannot be considered a matrimonal asset and she keeps it.

Case #2: Jewelry insured under the home insurance is an asset, it must be split at equalization.

Case #3: Whom ever ends the relationship has to give the ring to the other.

Case #4: Both parties are mature enought to agree without a judge. Wow wouldn't that be great!

Case #5: Because the ring was purchased under the condition of marriage that it is an equal asset if that condition is broken.

[standing on the sidelines]

you give the ring as a gift. If you did not get married then it goes back to the person who gives it as the contract was not fulfilled (marriage). Once you get married then the contract is complete, and whatever happens after that doesnt matter.

it is excluded because it was a gift before marriage.

[Canadaguy]

What if the couple was common law and it was purchased using joint money?

Also, if it is insured under the house hold contents and a premium is being paid, would it not be a shared asset to split?

[Mess]

If your prize Bobby Orr hockey card that you've had since you were a kid that is insured for thousands of dollars isn't a joint asset, then don't try to claim that the engagement ring is a joint asset. The joint house insurance has no impact on who owns what or who owes to who.

The ring was a gift given before marriage. Standing on the sidelines has a point about returning the ring if there is no marriage, but this is etiquette, not law.

"What if it was purchased jointly?" Who the hell does that? If you are the .01% of people who did something like that, then look at your half of the purchase as a gift to her.

You are being an ass, frankly. Let go of the ring. At the time you both had hopes for the future and the best of intentions. It's the past let it go.

[Canadaguy]

Thank-you Mess for your reply. I respect the information you have provide to help answer these questions. I have heard so many differnent opinions and I am trying to clarify what is best, what is the law, and who is full of sh it.

As we all know it is difficult to negotiate agreements in seperation/divorce and what makes it even more difficult is when the other party can not let bygones be bygones and let me keep my Bobby Orr card.

Hopefully through conversation both parties can agree to let the past go and move on.

[Gary_P]

Exactly how much is a Booby Orr card worth? I think I left a few of them behind when I left 10 years ago hahahaha.

I agree with the premise that the engagement ring is a gift and should not be considered in any division of assets.

I also agree that even considering it as an issue is "ass-like". This is obviously a fresh divorce and those issues tend to come up out of anger.

My "real" advise is to let it go. Move waaaaay past that thought. You have much bigger issues financially and emotionally to deal with. You will see that in a year that ring means nothing to either of you.

[dinkyface]

Mmmmm ... for some reason now I'm smelling cheap bubblegum!

[Canadaguy]

that was the best bubble gum ever. Well after a long session we were able to compromise and settle our finances. Yes, I dropped the engagement ring off the bat and after some waggeling she was able to let me keep my Bobby Orr card at a smaller price.

[Mess]

I had a photo of Tim Horton, he autographed it for me sitting at the opening of the second ever Tim Horton donut shop.

My mum threw it out.

[Mess]

that was the best bubble gum ever.

MMMM! O-Pee-Chee!!!