Runaway Bride: Who Owns The Ring When You Say I Don't?
Posted on: 9 November 2015
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It is natural to have nerves before your wedding day, but when the nerves turn to serious doubt and you decide to call off the wedding, there is a lot to be sorted in the aftermath. While your pretty engagement ring will no longer be worn, it may represent part of your joint property assets, and you need to know your legal rights about who now owns what in your relationship. While a family lawyer will help you with the legal paperwork for the division of assets, the question remains of who gets to keep the ring.
When The Engagement Ring Is A Family Heirloom
Before discussing the legal aspects of the engagement ring ownership, you must first consider the moral one. If the engagement ring presented to you has been in his family for generations, it is good moral behaviour to return it to him if you break off the engagement.
While a heirloom ring is not something that was purchased from your joint finances, you could try and claim ownership of it because of the length of time you have been wearing it. But, do you really want the bad karma that comes from keeping an heirloom ring? In this instance, your heart should be telling you to give it back to the family it has always belonged to.
Ownership According To Family Law
To properly decide who owns the engagement ring, you need to look at section 4AA of the Family Law Act 1975 and determine whether your relationship was classed as de facto before you separated. When it comes to determining this, courts look at a number of different factors. For example, the length of your relationship, whether you lived together, and if you had any children together are some of the factors considered.
The definition of de facto is important because if it is deemed you were in a de facto relationship, then your assets need to be divided in the same manner as they would be if you had married and then divorced. This means all assets owned need to be divided up, and your family lawyer will liaise with your ex-partner's lawyer until a just division of assets can be agreed upon. This is all done through the family court system.
However, if your relationship is not classed as a de facto one, then you will need to take the dispute to your state court if you cannot agree on who gets to keep the ring.
A family lawyer is the best person to give you advice on who legally owns the ring, as well as what other assets you may be entitled to now the relationship is over. Once the asset division has been put to bed, you can move onto the next phase of your life, and the question of who owns the ring will finally have been answered. For more information, contact family law firms in your area.