In Minnesota, the division of property during a divorce follows the principle of “equitable distribution,” which means that marital property is divided fairly, though not necessarily equally. But what about an engagement ring? Is it considered marital property or non-marital property?
Under Minnesota law, an engagement ring is generally considered a “gift” and is treated as non-marital property. The key distinction is that an engagement ring is typically given as a gift before the marriage takes place. Whereas gifts between spouses during the marriage are typically considered marital property.
However, once the couple marries, the engagement ring could take on a different status depending on how it was treated after the wedding. For example, if it is traded in or a new, more expensive ring is purchased with marital assets—it may be subject to division. But in most cases, the engagement ring is considered the recipient spouse’s personal property, and its value will not be divided during the dissolution.
In conclusion, in Minnesota, an engagement ring is generally considered non-marital property, as it is a gift given before the marriage. However, as with any asset, the specifics of your situation and how the property was treated during the marriage could influence its classification. To ensure that you fully understand how your assets will be divided, it is always advisable to consult with a family law attorney. Contact Rochford Langins Jarstad LLC to schedule a consultation.