Subrogation

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Subrogation

An insurance process whereby a company that has paid out to a policyholder for a loss incurred recovers the amount of the loss from the party that is legally liable.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Subrogation

The transfer of a claim or legal right from one party to another. Subrogation is often associated with the transfer of the right to a debt from one person to another. That is, a creditor can give or sell his/her right to a debt to some third party. See also: Forfaiting.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

subrogation

The substitution of one party for another.Insurance companies typically have rights of subrogation, so if the insurer pays the property owner for a loss, such as a house fire, and then discovers that loss was the fault of a third party, the insurance company may sue and recover from the third party.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
If, however, X's fraudulent transfer is more than one year old at the time of the bankruptcy petition and if [C.sub.2-4] have no fraudulent transfer rights under state law to which the trustee could subrogate, then X could retain the surplus.
The trustee must subrogate herself to a real unsecured creditor with a fraudulent transfer right.
The Divisional Court held that the insurer could subrogate against the employee of its named insured.
The regulator clearly intended for the insurer to be able to subrogate against the impaired driver in such cases.