Posted by sue_pa on 3/11/09 12:27pm
Msg #280310

definition of "Durrett"

When I am bored I read through lender's closing instructions sometimes ... I know, a pitiful life.

This one says .... we will not accept our mortgagee's policy with any "Durrett" or "Bankruptcy" exceptions....

I looked durrett up on an online dictionary and it didn't show anything. Does anyone know what this means? Just curious.

Reply by Dennis D Broadbooks on 3/11/09 12:49pm
Msg #280314

Wasn't He the Big 12 Player of the Year in 2007?

Personally I think it should have gone to KU's Darrell Arthur as his statistics matched up well with Kevin Durant's...wait a minute! Did you say "Durrett"? Never mind!

Reply by Linda_H/FL on 3/11/09 12:56pm
Msg #280315

Maybe this will help

http://ezinearticles.com/?Forclosure-And-The-Durrett-Rule&id=20262

Reply by sue_pa on 3/11/09 1:21pm
Msg #280324

Re: Maybe this will help

Thanks. I'm guessing "Durrett" is the person's name who "invented" this rule. Never heard of it previously. Sadder yet ... I'll now waste my time scanning other lender instructions to see if anyone else mentions this ... I know, again ... pitiful.

Reply by Linda_H/FL on 3/11/09 1:38pm
Msg #280328

Re: Maybe this will help

I think you're right, Sue, as to its origins...in reading further I found an article that says the Durrett Rule is better explained in the portion of the bankruptcy code addressing fraudulent transfers..

Reply by Bob_Chicago on 3/11/09 1:35pm
Msg #280326

621 F2d 201 Durrett v. Washington National Insurance Co

Related to a case involving foreclosure sale at significantly less
than FMV of the PIQ
REALLY Obsure
Sue, you should consider getting out more often
Have a great day

Reply by Kate/CA on 3/11/09 9:37pm
Msg #280376

You can find it in "Black's Law Dictionary" n/m