When a couple divorces in New York, the recipient of the engagement ring owns it as a separate asset, since it was given prior to the marriage.
This can sting the spouse who made the proposal when the ring was expensive or a family heirloom, but the idea that engagement rings are conditional property that become the sole property of the recipient is well established and generally utilized nationwide.
If the marriage happened, the engagement ring becomes the property of the recipient, and any debt incurred in purchasing it is the separate debt of the buyer.
Protect all your assets with the experienced Queens divorce attorneys at Zelenitz, Shapiro & D’Agostino. Call 718-523-1111 today to talk to a lawyer for free.