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.
A quitclaim deed conveys someoneâs interest in real property to someone else. The seller or donor is the grantor; the recipient is the grantee. The quitclaimâs only promise, or covenant, is that if the grantor had an interest in the land, that interest is transferred to the grantee. Thatâs a big âif.â Quitclaims should be used only in special circumstances.