You Have The Right To Voluntarily Dismiss Your Structured Settlement Transfer
You Have the Right to Voluntarily Dismiss Your Structured Settlement Transfer
What’s in it for you? At no cost to you, if you decide to suddenly “opt-out”, you can. Put it in writing, with a crayon and toilet paper if you want. Just get it in writing. Or, hire an independent professional adviser to protect you at all phases in the process, whether or not you sell.
Superior court judges, transfer companies, transferees, advisers, or any other type of agent cannot lock you into transferring your structured settlement payment rights during the court proceeding.
Legal recourses that back you:
1. California Insurance Code 10136(e): “At any time before the date on which a court enters a final order approving the transfer agreement pursuant to section 10139.5, the payee may cancel the transfer agreement, without cost or further obligation, by providing written notice of cancellation to the transferee.”
2. You had a statutory right to file the petition under CA Insurance Code 10139.5 (c)(1), therefore,
3. You are a “proper party” under California Civil Code of Procedure section 367, therefore,
4. You are called a “Plaintiff” under California Civil Code of Procedure section 1063, participating,
5. In what is called a “special proceeding” (or special hearing) as defined in California Civil Code of Procedure sections 22,23.
Got it? That’s your defense. It’s your constitutional right to be able to pull out. It was your constitutional right to try and petition the courts in the first place.
Independent professional advisers get paid regardless if you sell or not. The value of having an independent adviser is priceless.