Annuity Buyers

Written by Patricia Skinner
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If you have an annuity, you may be unaware of a very safe, legal form of raising cash. You can sell your annuity. Who will buy it? They're called annuity buyers.

Details Of Annuity Ownership

The annuity itself is not assignable by you, because technically you don't own it. It is typically owned by a subsidiary of the life insurance company which issued the annuity. What you do own is the right to receive payments under the settlement.

That right to receive payments is personal property, and that personal property can be assigned. Annuity buyers buy the rights to receive the payments. The whole process is easier than you may initially think.

Your insurance company may say that you are prohibited from assigning the payments; however, that is a misconception of the legal code, and your lawyer or financial consultant will discover that it is legal to assign your payments to a third party, i.e. the annuity buyers. Annuity buyers, like private mortgage note buyers, have a great deal of liquidity, and can convert your annuity to cash very quickly.

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