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LSDefine

Simple English definitions for legal terms

equitable subrogation

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A quick definition of equitable subrogation:

Equitable subrogation is when someone pays off a debt for someone else and then gets the same rights and benefits as the person who owed the debt. For example, if a friend pays off your car loan, they can become the owner of the car and have the same rights as you did. This can happen by agreement or by law to make sure things are fair.

A more thorough explanation:

Equitable subrogation is a legal term that refers to the substitution of one party for another whose debt the party pays. This entitles the paying party to rights, remedies, or securities that would otherwise belong to the debtor. For example, if a surety pays a debt, they are entitled to any security for the debt held by the creditor and the benefit of any judgment the creditor has against the debtor. They may also proceed against the debtor as the creditor would.

Equitable subrogation can arise by contract or by an express act of the parties, which is called conventional subrogation. It can also arise by operation of law or by implication in equity to prevent fraud or injustice, which is called legal subrogation. Legal subrogation usually arises when the paying party has a liability, claim, or fiduciary relationship with the debtor, pays to fulfill a legal duty or because of public policy, is a secondary debtor, is a surety, or pays to protect its own rights or property.

For example, if a homeowner pays off the mortgage on their property and then discovers that there was a lien on the property that was not satisfied, they may be entitled to equitable subrogation. This would allow them to step into the shoes of the lienholder and assert their rights against the debtor. Another example is when an insurance company pays a claim on behalf of their insured and then seeks to recover the amount from a third party who caused the loss. The insurance company would be entitled to the rights and remedies of their insured through equitable subrogation.

equitable right to setoff | equitable title

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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