Written by Jovan Johnson, Esq., Structured Settlement & Annuity Specialist
Updated August 31, 2026
If you’re receiving structured settlement payments in Brooklyn and need cash now, you can sell some or all of your remaining payments — but New York’s Structured Settlement Protection Act requires a Supreme Court judge to approve the sale before you can be paid. Here’s what selling a structured settlement actually involves in Brooklyn, step by step.
Can I Sell My Structured Settlement in Brooklyn?
Yes, you can sell a New York structured settlement, in full or in part. New York law (General Obligations Law § 5-1701 et seq.) requires: a written disclosure statement at least 10 days before you sign anything, a court petition filed in Supreme Court, at least 20 days’ notice before your hearing, and a judge’s finding that the sale is in your best interest. Most sales close in 45–60 days from signed agreement to funded payment.
See What Your Payments Could Be Worth
Every offer is different, and the only way to know what your specific payments are worth is to get an actual quote — not a generic estimate.
We work with attorneys and partners experienced in New York structured settlement transfers to help sellers throughout Brooklyn and the rest of the state. You’ll get a real quote based on your actual payment schedule, an explanation of the required disclosures before you sign anything, and guidance through the New York court approval process from people who handle these filings regularly. There’s no fee to get a quote, and requesting one doesn’t commit you to selling.
→ Request your free Brooklyn structured settlement quote
What Is a Structured Settlement?
A structured settlement is a set of tax-free payments made on a regular schedule following a lawsuit settlement, typically funded through an annuity issued by an insurance company. Common sources include personal injury, medical malpractice, and wrongful death cases. If you’d rather sell a different kind of payment stream, see our page on selling life-contingent payments or the general overview of selling a structured settlement.
Note: our funding partner does not currently purchase payment rights arising from workers’ compensation settlements.
How to Sell a Structured Settlement in Brooklyn (Step by Step)
1. Get quotes from more than one factoring company
Industry-wide, discount rates on structured settlement purchases commonly run 9%–18%. Sellers who work with AnnuityFreedom.net’s network have accessed rates as low as 8% in qualifying cases — worth asking about when you compare quotes.
2. Receive your written disclosure statement — at least 10 days before signing
Under General Obligations Law § 5-1703, the buyer must give you a disclosure statement at least ten days before you sign a transfer agreement. It has to spell out the payments being transferred, their total value, the discounted present value using a federally specified rate, and every fee being deducted.
3. Sign the transfer agreement
Once you’re satisfied with the offer and disclosures, you sign the agreement — but the sale isn’t final yet.
4. Your case is filed in New York State Supreme Court, Kings County
This isn’t an ordinary lawsuit — it’s a special proceeding filed under General Obligations Law § 5-1705, brought in the Supreme Court of the county where you live. For a Brooklyn seller, that’s Supreme Court, Kings County specifically, since Brooklyn and Kings County are the same jurisdiction. You don’t need to hire your own litigation attorney to appear; the buyer’s counsel typically prepares and files the petition, and you’re notified of the hearing date and may attend.
5. You (and any dependents) get at least 20 days’ notice before the hearing
General Obligations Law § 5-1705(c) requires the petition and notice of hearing to be served on you at least twenty days before the scheduled court date.
6. A judge reviews the sale at a court hearing
The judge must find on the record that the sale is in your best interest, considering the price you’re getting, the fees involved, and your reasons for selling.
7. Funding — typically 45–60 days after you sign
Once the judge signs the approval order, the buyer funds your lump sum.
A Real Driver of Large Brooklyn Settlements: The Scaffold Law and Waterfront Construction
Brooklyn is in the middle of one of the largest sustained construction booms in New York City’s history — from the Brooklyn waterfront to Downtown Brooklyn’s high-rise development. New York’s Labor Law § 240, the “Scaffold Law,” imposes strict liability on property owners and contractors for gravity-related construction injuries, regardless of the worker’s own negligence. That combination of dense construction activity and strict liability makes Brooklyn a recurring source of the large personal injury settlements that later get structured and, sometimes, sold.
If Something Goes Wrong: New York’s Consumer Protection Resources
- New York State Department of Financial Services (DFS) — handles complaints involving insurance companies and annuity issuers. Consumer Complaint Portal: dfs.ny.gov/complaint, or by phone at (800) 342-3736.
- New York State Unified Court System’s self-represented litigant resources — nycourts.gov/courthelp.
Brooklyn Structured Settlement FAQ
How long does it take to sell a structured settlement in Brooklyn?
Typically 45–60 days, covering the 10-day disclosure period, the 20-day court notice period, and the hearing itself.
How much money will I get for my structured settlement?
It depends on the discount rate applied. Industry-wide, that’s commonly 9%–18%, though sellers who qualify through AnnuityFreedom.net’s network have accessed rates as low as 8% — plus how many payments you’re selling and how far in the future they’re scheduled.
Can I sell only part of my structured settlement?
Yes — New York law allows partial transfers, so you can sell a portion of your payments and keep the rest on the original schedule.
Which court handles my case?
Supreme Court, Kings County — the same court and county as Brooklyn itself, per General Obligations Law § 5-1705.
Do I need my own lawyer to sell?
No — New York requires that you be notified of your right to independent professional advice, but doesn’t require you to retain one to complete a sale.
Ready to Get a Real Number?
Now that you know how the process works, the next step is seeing what it means for your specific payments. Get a free, no-obligation quote and walk through the New York court process with people who handle these filings regularly.
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About the Author: Jovan Johnson, Esq. is a structured settlement & annuity specialist with 12 years of experience, based in California. He has also practiced as an attorney in consumer and small business bankruptcy and debt settlement. Annuity Freedom has been helping clients sell annuity payments since 2017.
Disclaimer: This article is for informational purposes only and isn’t a substitute for independent professional advice.