Pragya Sakshi, Amity University, Patna
ABSTRACT
The Transfer of Property Act of 1882 is a significant law from the nineteenth century. The primary goal of this Act is to make the transfer of immovable property a public transfer system. Registration is necessary to complete the transfer. Property is a wide phrase that encompasses a thing’s value as well as the ownership exercised by the owner. It encompasses a person’s property rights. In different legal systems, the term subrogation has varied meanings. The doctrine of subrogation is derived from Roman law.
Subrogation is defined as the substitution of one person or thing for another, and as a result of this change, the same rights and obligations that applied to the original person or thing apply to the substitute person or thing. As a result, it merely entails putting oneself in another’s shoes.
The doctrine of subrogation gives the insurer the right to benefit from the assured’s rights and remedies against third parties in accordance with the loss, to the degree that the insurer has indemnified and made good the damage. As a result, the insurer has the right to utilise whatever rights the assured has in order to recover compensation for the loss to that degree, but it should be done in the name of the assured.
Section 92 in The Transfer of Property Act, 1882 states the Doctrine of Subrogation.
Comments