What states now have transfer statutes that require court orders?
No. On June 10, 1999, the IRS issued Private Letter Ruling 119273-97, which confirmed that an individual’s sale of their structured settlement payments would not create a taxable transaction. In addition, the United States Congress passed , a bill that confirms that the subsequent sale, assignment, transfer, or encumbrance of structured settlement payment rights by a payee to a company such as First Capital Funding Corporation does not create any adverse tax consequences for the parties to the original structured settlement, including the payee who makes the assignment of his/her structured settlement payment rights. The President signed the bill on January 23, 2002.
