Subrogatum tenet locum subrogati

A subrogation takes the place of that which is subrogated. The axiom should be understood as applicable, when the thing has been changed into something else by the owner, he having received the other thing in its place. Place v Norwich & New York Transp. Co. 118 US 468, 30 L Ed 134, 145, 6 S Ct 1150.