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.
Lolita it depends on a few factors, first make sure the foreclsoure deed is on record, this is the number one cause of delays in foreclosure sales, now assuming that the foreclsoure deed is filed, i have had cash sales close in 7 days.The bak often requests closings no more than 30 days while soem allow 45 days. If you are paying CASH, some banks are asking for a 2 week closing. - If the home has title problems, the amount of time to close is infinite. Overall, most banks usually want a 30 day close.