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Structured Settlement Court Procedure
The court procedure is a must for a transfer of structured settlement payment rights. A competent jurisdiction is required to approve the transfer of payment rights from one beneficiary to another. This is in reference to Title 10 of the courts & judicial procedures and chapter 66 for structured settlements.
It is not allowed to have a direct transfer of payment rights without the courts approval. No annuity insurance company is allowed to make a transfer to an annuitant to a secondary structured settlement company without hte approval or stamp from a judge. This must be done by a competent jurisdiction and responsible administrative authority.
The payee must wait at least 10 days before a previous payment to enroll in an opportunity to sell their settlement payments. A discosure statement written out in font points that are greater than 14 points need to state the amount of money to be received, the due date of the payments that are to be transferred and the aggregate amount of the payments.
There are different sections and sub-sections that are required for the transfer to go through and certain companies are better than others at helping their annuitants to receive their funding if they meet the qualifications.
For a full list of qualifications for a state such as Delaware for selling a structured settlement you can read about it here that way you can see how in depth the court procedures really are. We want to help you transfer your payments if it is the right thing to do.
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