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Celebrity engagements are always high profile and a failed engagement perhaps even more so. It is not a big secret that Miley Cyrus and Liam Hemsworth have called it quits (again). It is also well known that Miley Cyrus is keeping the 3. 5 carat Neil Lane engagement ring, though her proposed marriage to Liam Hemsworth has been called off. So in these situations the question has to be raised. If it all goes wrong who is keeping the engagement ring?
Liam Hemsworth reportedly told his ex-fiancee to keep the ring, and if a couple are in agreement on who keeping the engagement ring then that makes the decision easy.
Miley is not the only one. Kris Humphries, now divorced from Kim Kardashian after just 72 days of marriage, is reportedly auctioning off his ex-finance’s 20 carat engagement ring. So it would seem in that case the husband kept the ring. See how confusing it is if sometimes he is keeping the engagement ring and on other occasions she does?
A recent high profile USA court case has shown that the law on who has legal ownership of the ring differs from country to country and in the USA evenfrom state to state.
In Texas, courts frequently find that the ring is a pre-marriage gift so it belongs to the lady. Other states, such as California prefer to suggest that the ring is a conditional present. This means that the ring is conditional on the marriage proceeding, so if the engagement is terminated then the ring should be returned to the man who presumably paid for it.
Other states, such as Florida, have added some more confusion. Who is keeping the engagement ring if it is an heirloom from the bridegroom’s side? In this case the ring almost always would revert back to the male side of the family.
In the UK, France and Spain the court will consider if anyone is actually to blame for the engagement ending. So for example someone not being faithful. If one cheats then the innocent party may be able to keep the ring. As a man purchasing the ring however we advise you to make sure conditions are expressed regarding who is keeping the engagement ring should one party cheat or be in some way responsible for the ending of the engagement, if you want a good chance of getting the ring back in the worst case scenario.
However it is very rare in the UK, to see court action with clashes over who is keeping the engagement ring. Usually individual couples can decide amicably between themselves. Perhaps unlike the USA where court cases seem to be more common, UK couples don’t see the ring as a financial asset in the same way.
Also its worth remembering she may not want to keep the ring as it may of course be a painful reminder of where it all went wrong. We have all seen the films where the ring is somewhat dramatically thrown back at the man!
Many engagements sadly don’t make it across the wedding finishing line. An Aunt of your corespondent was able to buy her first house from the FIVE engagement rings she collected along the way. It is worth considering the possibility of who gets what in the worst case scenario. Prenup agreements are becoming very common, with couples with just modest incomes. One thing is for sure. The cost of legal action, post break up can be huge.
Many jewellers provide valuation services and, may even sell items for people.companies like UK online retailer, and diamond design expert, ComparetheDiamond.com (formerly diamondgeezer.com) will only sell items obtained directly from traders. However they do offer a service that they will arrange and pay for an independent valuation. This helps decide on a sensible price, for both parties to agree on, and allows you to know that the auction reserve will be pitched right. It is worth pointing out that the company also offers a 30 day money back guarantee if it all goes wrong very soon!
A positive note with diamond and ring prices, is in general, they are increasing by around 20% a year. It is possible that if you need to auction off your beautiful 18 carat platinum ring, with an exquisite round brilliant cut diamond, you may actually receive a decent return on your investment. So every cloud has a silver, or possibly a diamond, lining.
If you are looking to take a chance with your loved one look no further than ComparetheDiamond.com (formerly diamondgeezer.com) for the perfect engagement ring.