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Subordination occurs when one creditor's claim to a real estate asset is made junior to another's, often seen in refinancing situations. The process starts at the acquisition date, where senior debt is placed on the property, establishing a priority based on the chronological order of claims recorded on the title. If junior debt is later added, it is subordinate to the senior debt due to its later claim. If the senior debt is refinanced—with a new loan being placed after the junior debt—the refinancing changes the claim hierarchy, as the new senior debt takes precedence over the junior debt.
