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.
Unlike a warranty deed, a quitclaim deed does not make any claim that the property title is clear of liens. To file a quitclaim deed, you need to take a completed deed to the county clerkâs office and pay taxes and fees. Quitclaim deeds involve giving up important rights, and can have serious legal implications.