[WSBARP] REPSA language for structured settlement (annuity purchase)?

[Marcus Fry]

Eric:
I don't and I haven't seen anything like this.  Why would the purchaser buy an annuity instead of just giving the cash it would use to purchase the annuity to the seller towards application of the purchase price?  The seller then can buy his/her own annuity with the cash.  Is the seller attempting to spread out the capital gains hit through the installment method?  Interesting way about going about it.  Could work, I am just wary of the traps in the annuity world, such as can the policy be written in a way to prevent the buyer from selling its rights to a third party?  As irrevocable annuities are bought and sold all the time. What if buyer files for bankruptcy?  I would expect that the annuity will be available to all creditors.

Marcus J. Fry
Lyon, Weigand & Gustafson, P.S.

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From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Eric Nelsen
Sent: Wednesday, June 20, 2018 10:35 AM
To: WSBA Real Property Listserv
Subject: Re: [WSBARP] REPSA language for structured settlement (annuity purchase)?

I haven't had any responses to the below--Does anyone have a form, or a suggestion on a good resource? Thanks!

Sincerely,

Eric

Eric C. Nelsen
SAYRE LAW OFFICES, PLLC
1417 31st Ave South
Seattle WA  98144-3909
phone 206-625-0092
fax 206-625-9040

From: wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com> [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Eric Nelsen
Sent: Monday, June 18, 2018 11:31 AM
To: WSBA Real Property listserve (wsbarp at lists.wsbarppt.com<mailto:wsbarp at lists.wsbarppt.com>)
Subject: [WSBARP] REPSA language for structured settlement (annuity purchase)?

Client is selling property and wants to receive payment by having the buyer purchase an annuity and give them an annuity (structured settlement). Does anyone have contract language for this arrangement that I can review and crib from?

Many thanks--

Sincerely,

Eric

Eric C. Nelsen
SAYRE LAW OFFICES, PLLC
1417 31st Ave South
Seattle WA  98144-3909
phone 206-625-0092
fax 206-625-9040

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