Why The Need For Court Approval?
Unfortunately the world of commerce is thick with not-so-honest people. They have one thing in mind when they do business; themselves. The structured settlement industry is not exempt from such persons, and that’s why court approval is required in order to sell your structured settlement to a third party. At least in most states it’s required.
A court is able to, without bias, review the terms of the sale thus making sure the seller’s rights, and best interests, are protected. If you think about it, it’s really a wise route to take when selling a structured settlement. A court of law will quickly pick up on something that isn’t right and set if straight for you.
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