Part 14 California Residents
Category : IPA
By AFG Newswire Nov.30, 2014 2:41 p.m. Block 15.7 Article 2.3 Transfers of Structured Settlement Payment Rights
Part 14 California Residents: What the Transfer Company Can’t Make You Do
The Transfer Company Can’t Ignore Any of These Instructions, Nor Can YOU.
- 10138(b) “The provisions in this section may not be waived by agreement of the parties.”
This is the last article of our series, “California Residents: What the Transfer Company Can’t Make You Do”. In the last twelve articles, we’ve outlined the following provisions that are NOT allowed in the transfer agreement or related documents:
- a provision that waives your right to sue
- a provision that indemnify, holds harmless and defends the transfer company
- a provision that waives your benefits to wage garnishments
- a provision that makes the Agreement confidential or “owned” by the transfer company
- a provision that makes you agree to do a confession of judgment
- a provision that makes you pay for the transfer company’s attorney fees and costs if the transfer is not completed
- a provision that makes you pay for the transfer company’s tax liability
- a provision that makes you pay for additional brokerage fees for the transfer company
- a provision that takes your Hearing out of the state of California
- a provision that orders a different “choice-of-law” even though your from California, but the situation was not in California and other parties are not from California
- a provision that provides for a security interest that exceeds the transfer amount
- a provision that makes you do business with that particular transfer company in the future if you want to sell future payments
- 10138(b) simply states that none of these rules can be ignored or waived by the transfer company or you.
Independent professional advisers are not created equal. Hiring an independent professional adviser experienced in structured settlement law can make or break your understanding of what is going on. Call today for a consultation.