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.
200 N. Westlake Blvd. Ste 201
Westlake Village, CA 91362
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