We thought we would highlight an annuity sale this week for all our finance junkies out there. You can read the entire sale motion for free and contact the trustee to learn more about the bid process by clicking on the link below:
Annuity with Integrity Life Insurance
Snippet from the Sale Motion
NOW COMES RANDOLPH N. OSHEROW, the Chapter 7 Trustee ("Trustee") of the bankruptcy estate of RICHARD HOWARD BERG & BRENDA KAY BERG, Case No. 10-12107, and files his Motion to Sell Property of Debtor(s) known as an annuity with Integrity Life Insurance Co. Annuity, Contract No. 2130287200, Dwain Eucker Estate -Free and Clear of all Liens and Interests. The Trustee would show the Court the following:
I. PROPERTY TO BE SOLD
The property of the estate to be sold by this Motion is Debtor's interest, if any, in the property known as an annuity with Integrity Life Insurance Co. Annuity, Contract No. 2130287200, Dwain Eucker Estate - Free and Clear of all Liens and Interests.
Said property is to be sold AS IS and WHERE IS, free of all liens and claims.
The Trustee proposes to sell to Rodger B. King, the Debtor's interest in the property known as an annuity with Integrity Life Insurance Co. Annuity, Contract No, 2130287200, Dwain Eucker Estate for $15,500.00 or to any party making a higher offer(s) by sealed bid. Sealed bids are to be submitted (at least $17,000.00) to the Trustee, Randolph N. Osherow, 342 W. Woodlawn, Suite 100, San Antonio, TX 78212, by Friday, August 22nd, 2014 at 4:00 p.m.
The sealed bids must be accompanied by a check for the full amount of the sealed bids and all bids will be opened in the office of the Trustee, Randolph N. Osherow, located at 342 W. Woodlawn, Suite 100, San Antonio, TX 78212, at that time before any and all bidders who wish to attend and two independent witnesses. All disinterested third parties requesting notice of Trustee's sales have been served with this Motion to Sell Property of Debtor.
II. TRUSTEE'S ESTIMATED VALUE AND BASIS THEREOF
The Debtor listed the property on his schedules at value of $123,000.00. There are at least 221 monthly guaranteed payments remaining at $177.98 per month; however, if Brenda Kay Berg lives longer than 221 monthly payments, the payments continue for the life time of the Debtor, Brenda Kay Berg.
Based on information provided on Income Source Application For A Single Premium Individual Immediate Annuity-Integrity Life Insurance Co., Brenda Kay Berg is presently 48 years old. The Trustee has no information on Ms. Berg's health or life expectancy.
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