C.U. ANNUITY SERVICE CORPORATION v. YOUNG


281 A.D.2d 292 (2001)

722 N.Y.S.2d 236

C.U. ANNUITY SERVICE CORPORATION et al., Appellants, v. SCOTT YOUNG et al., Respondents.

Appellate Division of the Supreme Court of the State of New York, First Department.

Decided March 22, 2001.


Defendant Scott Young is a personal injury claimant who entered into a structured settlement agreement which provided that monthly payments of $550 be made to Young for life. Young expressly acknowledged in the agreement that he did not have the power to sell, mortgage, encumber or anticipate those periodic payments by assignment. Months after signing the settlement agreement, Young sold his right to receive the next 120 monthly payments to defendant Settlement Funding in...

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