I believe that an engagement is a conditional gift. It is an initial step to the final goal that is the marriage. The success of the engagement does not guarantee that the people will absolutely get married. For this reason, a person cannot have an ownership before the marriage. For some states in India like Kerala, people do keep only some few days gap between engagement and marriage. However, for other states like Delhi, there are instances where people get to engage and plan their wedding after two to three years.
In the case of less gap like days, there is few probability that the marriage will break. However, for the ones which have years gap, there is a high chance of marriage to break. Therefore, giving ownership during this time would just be mere foolishness.
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