Structured Settlement Protection Act
The Structured Settlement Protection Act, N.J.S.A. 2A:16-63 through 2A:16 -69, allows the beneficiary of a structured settlement to assign or sell his or her interest in the future income stream to a financial institution at a discount, provided a judge finds that such assignment or sale is in the best interests of the assignor.
Pursuant to R. 4:44A, such actions should be brought by OSC with a verified complaint. If unopposed, the matter may be decided on the papers. If opposed, a hearing will be scheduled and the applicant (buyer/transferee) and the original payee will be required to testify.
Venue for such actions shall be in the county where the payor/assignor resides.
See R. 4:44A- 1
More information can be obtained from “ A PRACTITIONER’S GUIDE TO NEW JERSEY’S CIVIL COURT PROCEDURES”
http://www.judiciary.state.nj.us/civil/PractitionersGuideManualAppendicesMay2007WebPostingVersion.pdf KENNETH VERCAMMEN & ASSOCIATES, PC
ATTORNEY AT LAW
2053 Woodbridge Ave.
Edison, NJ 08817 (Phone) 732-572-0500
(Fax) 732-572-0030 Personal Injury Dept.: 732-572-0024
website: www.njpersonalinjurylawcenter.com
