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.
From what I have researched, a judment or deragatory mark (not including bankrupcy) will stay on your credit report for 7 years plus 180 days. The 7 years start from the date the first delinquincy was reported to the agency. The 180 days is the leway they give the reporting agencies to remove it from your report.