subrogation definition

subrogation

Substitution of one party (called the subrosee) for another (called the subrosor) as a creditor or possessor of a legal right. Upon subrogation, the subrosee acquires the claims, interests, ownership, remedies, or securities of the subrosor. In cases where a party pays for the debts of another party, the paying party becomes entitled to the rights belonging to the debtor. See also subrogation clause.

subrogation is in the Corporate, Commercial, & General Law subject.

subrogation appears in these other terms: subrogation clause, subrogation principle

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