Property Management
In South Carolina, what is 'subrogation' in the context of property insurance?
AThe tenant's right to sublease the property
BThe insurer's right to pursue a third party who caused the loss after paying the insured's claim✓ Correct
CThe landlord's right to deduct insurance costs from the security deposit
DThe process of transferring a renter's insurance policy
Explanation
Subrogation is the insurance principle where the insurer, having paid a claim, steps into the insured's shoes to recover the payment from the responsible party. Landlords and tenants should be aware of waiver of subrogation clauses in leases.
Related South Carolina Property Management Questions
- In South Carolina, which document specifies the terms of a property management relationship between an owner and a property manager?
- In South Carolina, a property manager's authority is limited by the:
- An 'operating expense ratio' in South Carolina property management is calculated as:
- Under South Carolina law, a landlord who accepts rent after discovering a lease violation:
- In South Carolina, a 'triple net' (NNN) lease means the tenant pays:
- In South Carolina, a landlord who fails to return a security deposit within 30 days without proper itemization may be subject to:
- Under South Carolina law, what is the purpose of a 'Certificate of Occupancy' (CO) for a rental property?
- In South Carolina, what is 'deferred maintenance' in property management?
Practice More South Carolina Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free South Carolina Quiz →