290. Subrogation.

290.     Subrogation.

A lender who advances money which is used to discharge a security will be subrogated to the rights under that security and will obtain priority over incumbrances subsequent to that security if:

  1.  

    (1)     the subsequent incumbrancer has been enriched at the lender's expense;

  2.  

    (2)     such enrichment was unjust; and

  3.  

    (3)     there are no policy reasons for denying a remedy1.