ABSTRACT
This article explores the equitable remedy of subrogation to extinguished property interests. First, it shows that the remedy does not seek to achieve a single purpose, but rather multiple purposes. Each such purpose is only aimed at protecting a claimant from competing interest-holders whose rights already exist at the time of the subrogation-justifying facts. Building upon that, the article demonstrates that a subrogation claimant obtains a new equitable interest, rather than the actual extinguished interest to which the claimant is subrogated. That new equitable interest has only some of the characteristics of the extinguished interest. Finally, the article explores the consequences of this for how the remedy works in the context of statute, whether a claimant can be subrogated to a property interest that is not completely extinguished, and whether a claimant’s interest is a full equitable interest or a mere equity.
Adam Waldman, Equitable Subrogation To Extinguished Property Interests (2026) 50(1) Melbourne University Law Review 145.
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