Terms Used In Indiana Code > Title 34 > Article 50 - Settlement of Claims

• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• interested party: refers to :

  Indiana Code 34-50-2-1

• Service of process: The service of writs or summonses to the appropriate party.
• structured settlement: means periodic payments of damages established by a settlement or a court judgment in resolution of a tort claim for personal injury. See Indiana Code 34-50-2-2
• transfer: means a:

  Indiana Code 34-50-2-3

• transferee: means a party acquiring or proposing to acquire structured settlement payment rights through a transfer agreement. See Indiana Code 34-50-2-4