Green cards and visas are both government-issued documents for immigrants, but they bestow very different rights and privileges in the US. The critical difference is that a green card allows the holder to remain and work in the US indefinitely, while the visa is reserved for a temporary stay. Call Toll FREE: 1-800-788-0450 Home
Equitable Subrogation. DEFINITION of 'Equitable Subrogation'. A legal doctrine that allows a party that has made payments on behalf of another party to lay claim to the recovery of damages or funds from a third-party. Equitable subrogation is a legal concept that allows one party to replace another party when it comes to a legal right.
The insurer then sues tenant for the $1.5 million loss. Without mutual waiver of subrogation the landlord's insurer could obtain a judgment against landlord's negligent tenant, which may make it difficult or impossible for tenant to make its rental payments. Such a result would have a direct impact on landlord's income stream.