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Who Owns My Structured Settlement?

You have this money that is deposited each and every month into your bank account right? Well you are trying to figure out who the owner is of this payment and why it keeps on coming into your bank account.

Qualified Assignments according to the National Structured Settlements Trade Assocation: "Since 1983, the federal tax code has encouraged the use of structured settlements and qualifiedassignments to resolve physical injury and death claims. For the defendant, the combinedstructured settlement and qualified assignment offer several advantages. First, the assignmenttransfers full responsibility for all future payments to an independent third party. This removesfrom the defendant all future responsibility to the claimant for this case."

In the case of your structured settlement payment rights that you are receiving it may very well be a company like Prudential Insurance or MetLife. The buyer of your payments will let you know more information about your payments if it is qualified assignment or not. A non qualified assignment company may be one that has a structured settlement annuity from a nasty divorce case, business dispute, or other various work related cases.

If you are a military personnel who is receiving monthly payments then your payment is from a branch of the U.S. government. This would not have a qualified assignment and the annuity owner would be the United States of America even though you are receiving the money. In very seldom situations there is the defendant or the insurance company that owns the structured settlement annuity when insureres do not enter into assignments.

As the plaintiff in a case uou do not become the owner of the structured settlement. So wait how do I get the moeny you are asking? Well you can still have the right to get the payments just not being the owner. If you read up on the IRC 5891 then you can find even more helpful information as to how these financial instruments work. If you are looking to sell your payments then we can guide you through that process.