Maryland Consents to Petition for Approval of Transfer of Structured Settlement Payment Rights is a legal document that is used when an individual is seeking to transfer the rights to their structured settlement payments. This document is typically used when an individual needs to access some or all of their current structured settlement payments in order to pay for a major expense, such as medical bills, education, or home repairs. It is important to note that this document must be signed and approved by a judge before the transfer of payments can occur. The two types of Maryland Consents to Petition for Approval of Transfer of Structured Settlement Payment Rights are: 1. Consent to Transfer Structured Settlement Payment Rights by the Payee: This document is used when the individual who is receiving structured settlement payments wants to transfer those rights to a third party. 2. Consent to Transfer Structured Settlement Payment Rights by the Mayor: This document is used when the individual or organization who is making the structured settlement payments agrees to the transfer of those payments to a third party.
Maryland Consent to Petition for Approval of Transfer of Structured Settlement Payment Rights
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How to fill out Maryland Consent To Petition For Approval Of Transfer Of Structured Settlement Payment Rights?
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As an "interested party, you are entitled to support, oppose, or otherwise respond to the petition, in person or by counsel, by submitting written comments to the court or by participating in the hearing. Notice of the date, time, and location of the hearing is enclosed.
(j) "Structured settlement agreement" means an arrangement for periodic payment of damages established by settlement or judgment in resolution of a tort claim in which the payment of the judgment or award is paid in whole, or in part, in periodic tax-free payments rather than a lump-sum payment.