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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词条贡献者

译者陈鹏，毕业于一所培养高级翻译以及跨文化事务专家的精英大学，擅长翻译各种与诉讼及争议解决相关的法律文件。