Colorado Structured Settlement State Laws | CrowFly
State Laws / Colorado

Colorado Structured Settlement State Laws

If you live in Colorado and are interested in selling your structured settlement for cash, below is a brief overview that can be a good starting point in your research.

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Colorado Law: Selling Structured Settlement Payments

If you are considering selling your future structured settlement payments for an immediate lump sum in Colorado, it's important to understand the laws surrounding this type of transfer. In addition to federal law, 50 states have their own laws that govern the process of transferring the rights of a structured settlement annuity.

Colorado Structured Settlement Law

In Colorado, the law surrounding the transfer of rights to future structured settlement payments is Article 23: Structural Settlement Protection Act.

13-23-104. Approval of transfers of structured settlement payment rights.

(1) A direct or indirect transfer of a structured settlement payment right shall not be effective and a structured settlement obligor or annuity issuer shall not be required to make a payment directly or indirectly to a transferee of a structured settlement payment right unless the transfer has been approved in advance in a final court order or order of a responsible administrative authority based on express findings by such court or responsible administrative authority that:

(a) The transfer is in the best interests of the payee, taking into account the welfare and support of the payee’s dependents;

(b) The payee has been advised in writing by the transferee to seek independent professional advice regarding the transfer and has either received such advice or knowingly and willingly waived such advice in writing; and

(c) The transfer does not contravene any applicable statute or the order of any court or other government authority.

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Structured Settlement Federal Law

To sell your future structured settlement payments, you'll need to comply with both state and federal law. These laws are in place to protect you. Knowing Structured Settlement Federal Law is important as it states the …… 26 U.S. Code 5891 also offers some helpful definitions and other rules for selling structured settlement rights. Read the full law here.

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How Does Selling Structured Settlements Work

Learn about all the steps required when selling structured settlement payments.

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What to Expect When Working with CrowFly

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