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Legal Definitions - subrogative
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Definition of subrogative
Definition: Subrogative (səˈbrōɡətiv) is an adjective that describes something related to subrogation, which is the act of one party taking over the rights and responsibilities of another party in a legal matter.
Examples:
- When an insurance company pays out a claim to their policyholder, they may then exercise their subrogative rights to pursue legal action against the responsible party to recover their losses.
- In a mortgage agreement, the lender may have subrogative rights to take over the borrower's rights in the property if they default on their payments.
These examples illustrate how subrogative relates to the legal concept of subrogation, where one party steps into the shoes of another party to pursue their rights and claims.
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Simple Definition
Term: SUBROGATIVE
Definition: Subrogative means something that is related to subrogation. Subrogation is when one person or company takes over the rights of another person or company. For example, if you get into a car accident and your insurance company pays for the damages, they may have the right to take legal action against the other driver to get their money back. This is called subrogation, and the rights that the insurance company has in this situation are called subrogative rights.
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