Subordination vs Subrogation Flashcards
1
Q
What is subrogation?
A
Right to pursue someone else’s claim.
2
Q
Where would you find subrogations?
A
Leases, mortgages, insurance policies, guarantees, and other agreements.
3
Q
What is a subordination
A
Legal agreement which establishes one debt as ranking behind another debt in the priority for collecting repayment from a debtor.
