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.
These are most often found in construction and lease contracts. A waiver of subrogation provision prevents the insurance company (who steps into the shoes of the insured after it pays a loss) from suing the other party to the contract â which likely caused the loss.he insurance company is then âsubrogatedâ â or steps into the shoes of the insured â to sue that third party for the loss suffered by the insured. In short, the insurance company pays its insured to make the insured whole.