When getting a divorce in Virginia, you may wonder who gets to keep the rings or if you need to contest the right to keep the rings as part of your divorce agreement. You may even wonder, “can you sell your engagement ring after divorce in VA?”
In this guide, our legal team at DiPietro Law Group explains how divorce courts in Virginia divide engagement rings.
If you have questions about whether you can sell your engagement ring or wedding ring, call (888) 530-4374 to speak to an experienced property division attorney with DiPietro Law Group.
How Virginia Divides Marital Property in a Divorce
Virginia is an equitable distribution state, meaning that you and your spouse won’t divide marital property evenly 50/50. Instead, you’ll split your assets equitably depending on several factors, including:
- Income of each spouse
- Contributions of each spouse to the marriage and household
- Length of the marriage
- Contributions by each spouse to the shared debt
- Each spouse’s age
- Additional factors on a case-by-case basis
Wedding Rings vs. Engagement Rings: Are They Marital Property?
Because a wedding ring is a symbol of the marriage, it is marital property, or property that the spouses own jointly. Because wedding rings are marital property, the court will determine an equitable distribution that includes the value of the ring or rings.
Family Heirloom Wedding Rings Are Separate Property
The only exception is if one spouse brought a family heirloom wedding ring into the marriage, making it separate property. Equitable distribution of the ring could mean that a judge adjusts the division of the marital assets and debts to increase the value of the award to the spouse who doesn’t keep the ring according to the value of the ring.
You and your spouse may also decide to sell the wedding rings and divide the proceeds from the sale according to their equitable distribution agreement.
Engagement Rings Are Gifts, Not Marital Property
However, an engagement ring is different. Engagement rings are conditional gifts, meaning that if a spouse breaks the condition for receiving the ring, they must return it. Engagement rings are separate property that belongs to the spouse who originally purchased and presented the gift.
So can you sell your engagement ring after divorce in VA? Only if it’s yours or if it qualifies for an exception in property division.
Prenuptial Exceptions for Engagement Rings as Separate Property
If you and your fiancé or fiancée created a prenuptial agreement before marriage, you might have agreed to split the value of the engagement ring or that it was a gift to the receiving partner regardless of the duration of the marriage. A judge will review your prenup during the divorce to determine if it’s valid and enforceable to divide property.
Contact the DiPietro Law Group for Divorce in Northern Virginia
Before you search for “can you sell your engagement ring after divorce in VA?”, contact us at DiPietro Law Group. Our team has over 60 years of combined experience representing divorcing spouses. Call us at 888-530-4374 or contact us online to schedule a consultation with a divorce attorney in Northern Virginia.