Legal   A handy legal reference for laypersons to decipher lawyer jargon.


what is...
A process by which a third party is put in the place of a creditor so that the rights and securities of the creditor pass to that third person. For example, in a personal injury matter, an insurance company may exercise its right of subrogation to place a lien on a plaintiff's award or settlement in order to achieve full or partial reimbursement for insurance benefits advanced to the plaintiff.

The information provided herein is not intended to be legal advice, but merely conveys general information related to legal issues commonly encountered.

    Courtesy of the Legal Glossary
    Copyright © 2006 by 20/20 Technologies