Constructive Trust. A constructive trust is not an actual trust by the traditional definition. It is a legal fiction that is used as a remedy for unjust enrichment. Hence, there is no trustee, but the constructive trust orders the person who would otherwise be unjustly enriched to transfer the property to the intended party. wex: COMMERCE.
In the past, quitclaim deeds gave complete ownership to the holder after seven years of uncontested use â even if the person who gave you the deed wasnât the real owner. Now, itâs not as simple. More documentation is required as listed in the Official Code of Georgia.
From start to finish, foreclosure can take many months. The process ends with an auction sale and a demand telling the homeowner to leave the property. The notice sets out how long you have to leave, typically between five and 30 days. If you don't leave by the deadline, the new owner can get an eviction order and the sheriff will forcibly remove you from the home.