Legal Question in Bankruptcy in Minnesota

I am a resident of Minnesota and am engaged to be married. I gave my fiance an engagement ring. I paid for it on a major credit card and still owe about 80% of its value. She may file bankruptcy prior to our marriage. Will she have to claim it as an asset? Is the ring now legally hers? Is it different in Chapter 13 vs. Chapter 7?


Asked on 9/02/09, 4:45 pm

1 Answer from Attorneys
David Kelly-952-544-6356 Kelly Law Office

Each case is different, and this is matter that your fiance should consult her own attorney about. Opinions may vary, but my understanding is as follows:

Under fairly recent Minnesota case law, the ring is not hers until she marries you. Right now it is a conditional gift which is not completed until the wedding. It should, however, be disclosed as property in her possession which belongs to someone else.

This response is for general information purposes only and does not create an attorney-client relationship. It is suggested that you consult the attorney of your choice in person about the dedetails of your case.

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Answered on 9/08/09, 3:43 pm


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