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.
As a reminder, amended returns take up to 16 weeks to process and up to three weeks to show up in our system. Before that time, there is no need to call the IRS unless the tool specifically tells you to do so. Please note: A change made on your federal return may affect your state tax liability.