Terms Used In Tennessee Code 47-18-2607

  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Transfer: means any sale, assignment, pledge, hypothecation, commutation, advance or other form of alienation or encumbrance made by a payee for consideration. See Tennessee Code 47-18-2602
  • Transfer agreement: means the agreement providing for transfer of structured settlement payment rights from a payee to a transferee. See Tennessee Code 47-18-2602

This part shall apply to any transfer of structured settlement payment rights under a transfer agreement entered into on or after June 23, 2000; provided, that nothing contained herein shall imply that any transfer under a transfer agreement reached prior to June 23, 2000 is ineffective.

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