Subrogate
Definition of "Subrogate"
Substituting one party for another in an action giving that party full rights or claims. Foe example, an insurance company pays the insured for a fire loss caused to the home by a third party. After the insurance company reimburses the insured for the loss, the insurance company 'now stands in the insured's shoes"" and sues the third party for the damages.
Popular Real Estate Terms
Fee charged by a mortgage lender to a buyer, seller or both for transferring a mortgage when the mortgage property is sold. ...
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Window normally mounted on hinges in a window casing. It swings outward to open. ...
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