Structured Settlement Payment Rights

Article 2.3 Transfers of Structured Settlement Payment Rights   Tax Liability to Whom?  Stepping into the Shoes of the Third Party Beneficiary   California Insurance Code says if your the person “stepping into the shoes of the third party beneficiary” (assignee),  you share the tax liability, if any, with the transfer company and you both are liable to the structured settlement obligor, and to the annuity issuer, if the transfer does not comply with California Insurance Code 10134-10139.5 OR if the transfer company and the assignee individually or both are noncompliant.   10139.3(d) states, “The transferee and any assignee shall […]

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Annuity Issuer and Structured Settlement Obligor

. Block 17.4 Article 2.3 Transfers of Structured Settlement Payment Rights   Annuity Issuer and Structured Settlement Obligor Not Required to Divide Payments   10139.3(e) states, “Neither the annuity issuer nor the structured settlement obligor may be required to divide any structured settlement payment between the payee and any transferee or assignee or between two or more transferees or assignees.”   Who then divides the money?  Does the structured settlement obligor or the annuity issuer ever divide the money?  Did something bad happen in the past that they can’t divide the money?  Do they have motive?  What is this law […]

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Most Misunderstood Legal Courthouse Terms D-F

4 Article 2.3 Transfers of Structured Settlement Payment Rights Most Misunderstood Legal Courthouse Terms  D-F   Deadlocked – When a jury cannot reach a verdict due to irreconcilable differences of opinion.  The fact that a jury has ben deliberating for several days does not mean that the jury is deadlocked Declaration – A written statement made by witnesses, not under oath, subjecting them to perjury for its violation Default Judgment – A judgment entered after failure of a party to appear, or plead, or take some required step in a case at the appointed time Demurrer (de’-M’er) – A challenge […]

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Your Transfer of Payment Rights

Block 17.1 Article 2.3 Transfers of Structured Settlement Payment Rights   Forget About Signing Any Waiver for Your Transfer of Payment Rights:  This Contract You Don’t Control   10139.3(a) None of the provisions of this article may be waived by the payee.   Do you notice how 10139(a) states “this article”?  That means this entire code, not just the transfer agreement, or just the disclosure statement within the code, but the entire code itself, CA Insurance Code 10134-10139.5 cannot be waived by the payee.   The person selling the structured settlement payment rights, cannot deliberately abandon any terms of the […]

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Annuity Issuer and Structured Settlement Obligor

. Block 17.4 Article 2.3 Transfers of Structured Settlement Payment Rights   Annuity Issuer and Structured Settlement Obligor Not Required to Divide Payments   10139.3(e) states, “Neither the annuity issuer nor the structured settlement obli… Continue reading Annuity Issuer and Structured Settlement Obligor

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” by Congress in an effort to protect the consumer.  Be grateful it is in the code, it protects you, and gives you the freedom to do business with whomever you want.   Before 1999, and for about 20 years, when a person would enter into contract with a Company, for example, Company “A” to sell part of their structured settlement, Company “A” would […]

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Structured Settlement Attorney

What is a Structured Settlement Attorney? Well lets break it down, a structured settlement attorney is an attorney is one who only represents structured settlement cases. When most people think of a structured settlement case, they first think of  a personal injury case. Although they do not know it, but the fact is that is a personal injury attorney, not a structured settlement attorney. confused from the personal injury attorney is the one settling the case to get a structured settlement. When i talk of structured settlement attorney, i am referring to an attorney that  assists in the transfer of a structured settlements.Sometimes referred to as an independent professional advisor. The […]

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Structured Settlement Payment Rights

Article 2.3 Transfers of Structured Settlement Payment Rights   Tax Liability to Whom?  Stepping into the Shoes of the Third Party Beneficiary   California Insurance Code says if your the person “stepping into the shoes of the third party beneficiary” (assignee),  you share the tax liability, if any, with the transfer company and you both are liable to the structured settlement obligor, and to the annuity issuer, if the transfer does not comply with California Insurance Code 10134-10139.5 OR if the transfer company and the assignee individually or both are noncompliant.   10139.3(d) states, “The transferee and any assignee shall […]

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Using A Structured Settlement as Collateral for a Bank Loan

Using Your Structured Settlement as Collateral for a Bank Loan According to the National Structured Settlement Trade Association (NSSTA) “Normally, you may not use your structured settlement payments as collateral for a loan.  The reason is that the federal law designed to provide these benefits to you on an income tax-free basis also prohibits you from assigning or encumbering them”. The National Association of Settlement Purchasers (NASP) states, “That is an option, if you have good credit and are willing to take on additional debt.”  The NASP also adds, “Unfortunately, few banks will take your payments as collateral.  That is […]

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Seeking Help to Sell Your Structured Settlement Payment Rights

Seeking Help to Sell Your Structured Settlement Payment Rights   All Independent Professional Advisers are NOT Created Equally:  Seeking Help to Sell Your Structured Settlement Payment Rights   When Seeking Help to Sell Your Structured Settlement … Continue reading Seeking Help to Sell Your Structured Settlement Payment Rights