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Wisconsin Statutes Miscellaneous Actions, Proceedings and Procedure (Ch. 895 to 900) § 895.68. Effects of transfer of structured settlement payment rights

Current as of January 01, 2025 | Updated by Findlaw Staff

A transfer of structured settlement payment rights under this subchapter includes the following effects:

(1) The structured settlement obligor and the annuity issuer shall, as to all parties except the transferee, be discharged and released from any and all liability for the transferred payments.

(2) The transferee shall be liable to the structured settlement obligor and the annuity issuer for all of the following:

(a) Any taxes incurred by such parties as a consequence of the transfer, if the transfer contravenes the terms of the structured settlement.

(b) Any other liabilities or costs, including reasonable costs and attorney fees, arising from compliance by the parties with the order of the court or arising as a consequence of the transferee's failure to comply with this subchapter.

(3) Neither the annuity issuer nor the structured settlement obligor may be required to divide any periodic payment between the payee and any transferee or assignee or between multiple transferees or assignees.

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Cite this article: FindLaw.com - Wisconsin Statutes Miscellaneous Actions, Proceedings and Procedure (Ch. 895 to 900) § 895.68. Effects of transfer of structured settlement payment rights - last updated January 01, 2025 | https://codes.findlaw.com/wi/miscellaneous-actions-proceedings-and-procedure-ch-895-to-900/wi-st-895-68/

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