Block 9.6 Article 2.3 Transfers of Structured Settlement Payment Rights
10136(c)(5) The Dollar Amount You Have Left, Less the Expenses
10136(c)(5) Tells you there is another dollar amount for you to see, but this time, it’s the total amount of your structured settlement payment rights to be transferred LESS the total amount of expenses, and the figure you get, is what (5) states that you will also see in the disclosure statement.
Once again, 10136(c) states:
10136(c) The transfer agreement shall be written in at least 12-point type and shall be complete and without blank spaces to be completed after the payee’s signature. The transfer agreement shall set forth clear and conspicuously, and in no less than 12-point type, all of the following:
10136(c)(5), (5) being the fifth subdivision out of thirteen (13) under 10136(c), states:
(5) The amount payable to the payee, net of all expenses, in exchange for the payments to be transferred. This amount shall be disclosed in the form prescribed in subdivision (b).
So far, you agree to the amount payable to you, minus all the expenses, in exchange for the payments to be transferred-so that means you are agreeing to pay for the abovementioned expenses to get the payment rights transferred.
But don’t worry, remember in 10136(c)(4), the judge and you get an opportunity to see the expense report and view the charges, in case you need to dispute an unreasonable expense, under unfair business practices.
Once again, conferring with an expert in this field can save you a lot of money, grief, and time.
Originally posted 2014-12-27 23:26:51. Republished by Blog Post Promoter