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Subordination refers to the prioritization of one creditor's claim on a real estate asset over another's, often occurring during debt refinancing. In a typical scenario, a property starts with senior debt recorded first, which holds priority in claims. If junior debt is added later, it is subordinate to the senior debt due to its later recording on the title. If the senior debt is then refinanced, effectively replacing the original loan with a new one, the priority order can shift. The new senior debt supersedes the previously recorded junior debt, thus impacting the claims on the property.
