Who owns the engagement ring or wedding ring after a divorce?
In a divorce, Maryland Courts can only deal with marital property. Marital property is defined as property that is acquired during the marriage. The engagement ring is usually acquired before the marriage. Therefore it is non-marital.
The ring is a conditional gift. That means that the man (pardon the gender stereotyping) gives the ring to the woman. She gets to keep it as her sole property on the condition that she marries him. Once the wedding is complete, the condition is met and the ring is hers.
This is the general rule. As with all things legal, your specific circumstances may be different.