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.
1 A quitclaim deed is a common legal form used to transfer property from the seller (known as the grantor) to the buyer (known as the grantee). It is called a quitclaim because the end result is that the seller quits (or terminates) any claim he or she has to the property. Quitclaim deeds differ from other property deeds, such as a warranty deed, because they offer no guarantees as to the state of the property being transferred.