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.
What is a quitclaim deed? A quitclaim deed is a legal document that transfers ownership of real estate from one person to another. The deed identifies who is handing over an interest in the property (the grantor) and who is accepting it (the grantee). Quitclaim deeds often are used when property isnât sold. Examples include.