A simple page I found talking about GPS:
http://www.kowoma.de/en/gps/positioning.htm
The clock on the receiver isn't accurate enough to measure the time it took to receive the signal with high accuracy anyway, it just uses relative times, hoping the clock is accurate enough that it doesn't change it's speed too much and the relative time proportions are relatively accurate. Then it calculates the position and also corrects the clock by making the spheres of the distances from the satellites intersect.
So it seems that the receiver isn't just synchronizing the clock from time to time, it is actually figuring out the correct time based on the relative times of the signals for each position calculation, otherwise it would have much less accuracy. This should mean that there would be no error build-up.