Filing Structured Settlement Transfer

Block 16.4 Article 2.3 Transfers of Structured Settlement Payment Rights   OAG May Charge for Filing Structured Settlement Transfer Agreement   California Insurance Code 10139(c) simply states, “The Attorney General may charge a reasonable fee fo… Continue reading Filing Structured Settlement Transfer

IF YOU ARE A SELLING A STRUCTURED SETTLEMENT – YOU NEED TO READ THIS!

IF YOU ARE A SELLING A STRUCTURED SETTLEMENT – YOU NEED TO READ THIS! Regardless of how simple the TV commercials and web-ads make it sound, any sale of a structured settlement requires Court Approval! What this means is that if you are thinking of a selling your structured settlement, you must first go to court and get a judge to approve the sale. More important, the judge must also make the decision that selling your structured settlement is in your best interests, or the sale of your structured settlement payments will be denied. Fact, this is true no matter […]

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IF YOU ARE A SELLING A STRUCTURED SETTLEMENT – YOU NEED TO READ THIS!

IF YOU ARE A SELLING A STRUCTURED SETTLEMENT – YOU NEED TO READ THIS! Regardless of how simple the TV commercials and web-ads make it sound, any sale of a structured settlement requires Court Approval! What this means is that if you are thinking of a s… Continue reading IF YOU ARE A SELLING A STRUCTURED SETTLEMENT – YOU NEED TO READ THIS!

Transfers of Structured Settlement Payment

Transfers of Structured Settlement Payment Rights   Compliance to Contract Writing is the Responsibility of the Transfer Company   The California Insurance Code puts the onus on the transfer company to get all of the contracts right.  The Insurance Code spells out the terms of the disclosure statement, and the transfer agreement in Sections 10136, 10137, and 10138 to the transfer company, and only the transfer company. The code below states that it is the sole responsibility of the transfer company to draft these and any other necessary contracts to “seal the deal” for a successful transfer of payment rights. […]

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Transfers of Structured Settlement Payment

Block 16.3 Article 2.3 Transfers of Structured Settlement Payment Rights   Reporting to the OAG:   To Review or Not Review:  Does the OAG Take a Look at Each Transfer Agreement?   10139(b) says “no”.  10139(b) states, “The Attorney General may, but is not required to, review any transfer agreement in order to ensure that the transfer meets the requirements of this article.”   (You can view this “article” (10139(b)) here:    http://codes.lp.findlaw.com/cacode/INS/1/d2/2/1/2.3/s10139 a Thomson Reuters website that was last updated Nov. 13, 2013 at 1:08 p.m. PST.)   The code is short, and so is this article.  It’s straight forward.  10139(b) […]

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Buyer’s first right of refusal

By AFG Newswire Sept. 14, 2014 11:00 a.m.   What is Meant by “Buyer’s first right of refusal” in Structured Settlement Transfers   This is a clause written in the insurance code around 1999 under “urgency legislation&#… Continue reading Buyer’s first right of refusal