Judge: Lee W. Tsao, Case: 23NWCP00011, Date: 2023-02-08 Tentative Ruling

Case Number: 23NWCP00011    Hearing Date: February 8, 2023    Dept: C

ONE 10THS FINANCE LLC VS C M

CASE NO.:  23NWCP00011

HEARING:  2-8-2023 @ 1:30 PM

#8

TENTATIVE RULING

Petitioner One 10ths Finance LLC’s petition for approval of transfer of structured settlement payment rights is GRANTED. 

Moving Party to give NOTICE.

Petitioner One 10ths Finance LLC petitions for approval of transfer of structured settlement payment rights is GRANTED.

A transfer of structured settlement payment rights is void unless all of the following conditions are met: (a) The transfer of the structured settlement payment rights is fair and reasonable and in the best interest of the payee, taking into account the welfare and support of his or her dependents. (b) The transfer complies with the requirements of this article, will not contravene other applicable law, and is approved by a court as provided in Section 10139.5. (Ins. Code § 10137.)

Petitioner seeks approval of the transfer of certain structured settlement payment rights pursuant to Cal Ins Code § 10134 et seq.  Payee is 26 years old, single, with no dependents.  (Martinez Decl., ¶ 4.)  Payee intends to use the funds to make renovations on her home.  (Id., ¶ 6.)  If approved, Payee will receive $200,000.00 in exchange for a structured settlement payment of $1,654,971.60 in future payments.  (Petition, ¶ 3.)  The terms appear fair and reasonable.

Petition is GRANTED.