  The "correlated-projection technique" has been successfully applied to derive
a large class of highly non Markovian dynamics, the so called non Markovian
generalized Lindblad type equations or Lindblad rate equations. In this
article, general unravellings are presented for these equations, described in
terms of jump-diffusion stochastic differential equations for wave functions.
We show also that the proposed unravelling can be interpreted in terms of
measurements continuous in time, but with some conceptual restrictions. The
main point in the measurement interpretation is that the structure itself of
the underlying mathematical theory poses restrictions on what can be considered
as observable and what is not; such restrictions can be seen as the effect of
some kind of superselection rule. Finally, we develop a concrete example and we
discuss possible effects on the heterodyne spectrum of a two-level system due
to a structured thermal-like bath with memory.
