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.
Quitclaim vs Warranty Deed. A quitclaim deed operates as a release, to transfer or quit any title, interest, or claim which the seller may have in the property, while providing no guarantee the grantor has a valid interest in or title to the property.ince a quit claim deed only transfers the rights that the grantor has in the property, quit claiming does not affect the interest of others who do not sign the quitclaim deed.