Who gets the rings in a divorce

III. FAILED MARRIAGE The cases involving the distribution of a ring given in contemplation of marriage upon dissolution of a marriage have uniformly adopted the conditional gift theory. These cases apply contract principles. Such application almost always ends with the donee being awarded the ring. The cases often cite the three essential elements of an inter vivos gift: (1) a present intention on the part of the donor to make a gift to the donee; (2) the delivery of the property by the donor to the donee; and (3) the acceptance of the property by the donee. Upon acceptance, the donee's right to ownership becomes absolute in form. The courts further explain that there is a condition subsequent attached to the gift. In Lipton v. Lipton, 134 Misc. 2d 1076, 514 N.Y.S.2d 158, 159 (Sup. Ct. 1986), the court said: An engagement ring is a gift to which a condition subsequent, the fulfillment of the marriage agreement, is attached. . . . [A]lthough a gift made in contemplation of marriage is conditional, it is absolute in form when given. . . . The mere fact that a gift absolute in form may be defeated on the happening of a certain event does not invalidate the gift. . . . Thus, it was ab solute in form on the day it was given. Once the ring is given, it has become the separate property of the donee. Once the marriage is consummated, the donee has fulfilled the condition that entitles her to claim the ring as her separate property. She is entitled to the ring upon the dissolution of the marriage. 

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