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Subordination occurs when one creditor's claim on a real estate asset is made junior to another's. This is common during refinancing. In a timeline of ownership, senior debt is recorded first, establishing priority in claims. When junior debt is later added, it is subordinate to the senior debt. However, if the senior debt is refinanced, it can result in the new loan being placed after the junior debt, potentially altering the priority of claims. This situation illustrates how refinancing can impact the hierarchy of debt associated with a property.
