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Subordination occurs when one creditor's claim on a real estate asset is made junior to another creditor's claim, which is common during refinancing. This process is illustrated on a timeline starting from the acquisition date, where senior debt is prioritized first. Subsequent junior debt is recorded after the senior debt, making it subordinate in claims against the property. If the senior debt is later refinanced, and a new loan is established after the junior debt, the new debt assumes the senior position. Consequently, the original junior debt remains subordinate, reflecting the order of claims based on their recording timeline on the title.
