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Subordination occurs when one creditor's claim to a real estate asset is made junior to another creditor's claim. This is common, especially in refinancing debt. Claims to real estate assets are prioritized chronologically based on when they were recorded. If senior debt is placed on a property first, any junior debt added later is subordinate. However, if the senior debt is refinanced and a new loan is placed after the junior debt, the new debt becomes primary.
