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.
âQ: My elderly mother wants to transfer ownership of her home to me, her only child. My attorney drafted a quitclaim deed. What is a quitclaim deed? A: A quitclaim deed is a written document that transfers the title (ownership) of real property such as a home or piece of land. A quitclaim deed offers no warranties or guarantees that the owner has good title or ownership, but simply conveys whatever interest exists when the deed is executed (transferred) and delivered. Q: Must the transfer of title of real property via quitclaim deed involve an exchange of money? A: No. A transfer of an interest in real estate or land by a quitclaim deed does not have to involve the exchange of money.