Engagement Ring Ownership Rules

Summary

Under New Mexico law, an engagement ring is considered a conditional gift. If the engagement breaks up, the ring typically goes back to the purchaser. However, if the giver was married when he gave the ring, it could affect the classification of the ring as a conditional gift. This is a complex situation, and legal counsel should be sought for guidance.

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Under New Mexico law, an engagement ring is considered a conditional gift. If the engagement breaks up, the ring typically goes back to the person who purchased it.
How can it be a promise to get married if the person was married when he gave the ring
Under New Mexico law, if the giver was married when he gave the ring, it could potentially affect the classification of the ring as a 'conditional gift'. This is a complex situation and legal counsel should be sought for guidance.