Structured Settlements Texas

ide to sell your structured settlement for a lump sum of cash there are four basic criteria that must be met in order for the sale to be legal and binding.

First, all terms of the structured settlement sale must be in the form of a written contract. Verbal add-ons or amendments are not recognized in a court of law. Second, the seller must be provided a certain amount of time to review the contract. This is referred to as a grace period. The seller may legally back out of the sale with no penalties during this period. Third, a judge must review the terms of the sale, and fourth, the judge must issue a court order approving the sale.

Some states also require that the seller be advised in writing that it would be in their best interest to seek the advice of a professional advisor. Check with your state to see if this is the case.