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
Same as term development: Process of developing an area by planning and building homes, shopping centers, schools or churches. The development process includes the construction of streets, ...
Governmental body that reviews property tax assessment procedures. ...
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