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Subordination occurs when one creditor's claim to a real estate asset is made junior to another's, commonly seen in refinancing scenarios. The tutorial explains this using a timeline concept. At the acquisition date, senior debt is established on a property, and claims are prioritized based on the order recorded on the title. When junior debt is added later, it becomes subordinate to the existing senior debt. If the senior debt is refinanced and a new loan is placed after the junior debt, the new loan takes priority over the junior debt, illustrating how refinancing can affect the hierarchy of claims on the property.
