Appellate Practice Attorney serving New York, NY
The general rule is that when a gift is given in contemplation of marriage, and the donee breaks off the engagement, the gift is revoked and must be returned. Thus, the ring doesn't belong to your eldest son's ex, but to him (in my view the ring belongs to him, not his brother who financed its purchase, but the eldest son owes its purchase price to his brother) and he can sue her for its return or its value (or the price she sold it for, whichever is higher) if she sold or otherwise disposed of it.
Answered on Jul 30th, 2014 at 10:01 AM