How do I enforce a REAL PROPERTY of SMALL VALUE DE-305 affidavit with the mortgage company in order to tender the reverse mtg..

Asked over 1 year ago - Huntington Beach, CA

I have a fully executed DE-305 (filed and recorded). Wells Fargo is trying to say it is inapplicable to tender the reverse mortgage on my moms house. They tried to foreclose without notice to me as heir. They keep postponing the sale and will not let me sell for 95% of the appraised value. What can i do?

Attorney answers (1)

  1. Richard Alan Rodgers

    Contributor Level 16

    1

    Lawyer agrees

    Answered . A DE-305 is a mandatory Judicial Counsel Form entitled "Affidavit of Real Property of Small Value ($50,000 or Less)" [Probate Code 13200]. This is used ouside of a regular probate proceeding by a person claiming to be the rightful heir or beneficiary to a particular piece of real property that is valued by the probate court referee as being worth no more than $50,000 - gross value not net equity. When this form affidavit is properly completed and recorded, it operates to show marketable title in the affiant and frlm there to the subsequent good faith purchaser for value. SInce the DE-305 wil be recorded after the foreclosing lender's deed of trust, it is junior to the DT and therefore has no effect on the lender's foreclosure rights and processes.

    Richard A. Rodgers, Esq.
    (805) 230-2525
    200 N. Westlake Blvd. Ste 201
    Westlake Village, CA 91362
    rar@sd-attorneys.com
    www.sdresq.com

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