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
The restitution of a property insurance policy that has lapsed due to nonpayment of premiums. ...
In short, an overage means a surplus or an excess of money. An overage can present itself at a property at an auction where the asset has gone over the asking price. Suppose there’s a ...
A free-standing building having four dwelling units under one roof. Normally a quadriplex is a two-story complex with one dwelling unit located on top of and adjacent to another. Other ...
Bottom of a frame such as a window sill. ...
Borrower who gives property as collateral for a loan. ...
Specific portion of a larger land tract. A parcel can also be a lot in a property subdivision. ...
Founded in 1934 and located in Garden, CA with 1993 membership of 9,000, the IRWA is a professional association of appraisers, property managers, title examiners, and others having interest ...
Contractual provision requiring apportionment. ...
The endorser stipulates something such as that the transferee cannot use the funds for six months. ...
Have a question or comment?
We're here to help.