Definition of "Subrogate"

Michael Flowers real estate agent

Written by

Michael Flowerselite badge icon

Fairfax Realty

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.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

Increasing tax rates with increasing levels of taxable income. ...

loan that is not secured by a mortgage on a specific property. It is backed only by the borrower's credit rating. Unsecured loan are typically short term. The disadvantages of this kind of ...

Legal responsibility for something. For example, an owner of commercial property (e.g., restaurant) is legally obligated for damages on that property (e.g., restaurant patron falls and ...

Receipt given for a partial payment made on the sale of property. It shows the buyer has made a down payment. ...

To clip or prune shrubbery,etc. ...

Expenditure paid to occupy property over a specified time period. ...

One-time charge assessed by a bank or other financial institution at the closing of buying real property. The fee increases the effective cost to the borrower. One discount point translates ...

The continued and illegal occupancy of property after a legal period of occupancy has expired. In an estate at sufferance the tenant occupies the property at the sufferance of property ...

Oral defamation of the character or reputation of another. It is the basis for a lawsuit. ...

Popular Real Estate Questions