[CLBS] Engagement Ring

[D. Blair Clark]

I've not had it in a BK setting, but I did have a litigation a few years ago
over a similar situation where they were breaking up and he wanted the ring
back.  There are two schools on this--one says that it's a gift and hers
PERIOD, and the other said it's a "conditional" gift and it's hers UNLESS
they don't get married and THEN he has a claim for it.  But in either way,
she owns it now.   My research didn't show a case as you describe where it's
conditional until it's vested.  

D. Blair Clark
LAW OFFICES OF D. BLAIR CLARK PLLC
1513 Tyrell Lane, Suite 130
Boise, ID 83706
Telephone:    (208) 475-2050
Fax:               (208) 475-2055



-----Original Message-----
From: CLBS [mailto:clbs-bounces at admws.idaho.gov] On Behalf Of Megan Johnson
Sent: Wednesday, March 12, 2014 9:34 AM
To: clbs at admws.idaho.gov
Subject: [CLBS] Engagement Ring

Good morning all:

I have a client whose fiancé just proposed, and now she has a beautiful $6k
engagement ring. I can only exempt a little over $1,000 - which would mean
she would have to buy back the ring from the bankruptcy estate, after just
receiving it!   What do you think of the idea that the ring isn't really
hers until they get married, which won't be before we file?

I would appreciate any insight you might have on this!

Thanks,

Megan





Megan L. Johnson

*Berg & McLaughlin, Chtd.*

414 Church Street, Suite 203

Sandpoint, ID 83864

Phone 208-263-4748

Fax 208-263-7557

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