| The establishment of the institution of subrogation in re has logic connotations indicating both a value power and a privilege. The insurance money of mortgage, as the thing subrogated, has combined the mechanism of insurance and hypothecation. As a general rational mechanism,the mortgagee could actively invoke it to set the safeguards of hypothec risk, while in the meantime he should operate it with fairness, which depends on each case’s individual circumstances, demonstrating the force of insurance specifically. The key to the effective combination of insurance and hypothecation is to establish a rule realizing the validity of subrogation,solving substantive problems such as the specialization of the thing subrogated, the control of the guaranteed value, and the publicity of validity of guarantee, etc. The mode of legal distrainment has obvious deficiency,and it has more rationality to set the rule of mortgagee's necessary control of the obligation right of things subrogated. |
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