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What is a Non-Qualified Assignment?

April 26, 2017assignment non-qualified

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What is a Non-Qualified Assignment?

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A Non-Qualified Assignment is a legal novation transferring the future periodic payment obligation from the defendant or its carriers to a third-party non-qualified assignee. Once that assignee accepts the assignment and assumes the future payment obligation of the defendant, the defendant (and carrier) are fully and completely released from the future periodic payment obligation in exactly the same way as in a physical injury/sickness (qualified) case.