equity of subrogation

equity of subrogation. The right of a person who is secondarily liable on a debt, and who pays the debt, to personally enforce any right that the original creditor could have pursued against the debtor, including the right to foreclose on any security held by the creditor and any right that the creditor may have to contribution from others who are liable for the debt. — Also termed right of subrogation; (in Scots law) right of relief. See SUBROGATION. [Cases: Subrogation

1. C.J.S. Subrogation §§ 2–15, 19, 91.]

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