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Recording a satisfaction of mortgage is significant because it confirms that the mortgage has been paid off and is no longer a lien against the property. This process involves the lender signing a document that is then filed in public records, indicating the debt has been fully satisfied. Many misunderstand the recording system, thinking that names can be removed from a deed, but instead, documents are added to show changes in the chain of title. It is essential to obtain the promissory note after paying off the mortgage, as it is considered a negotiable instrument. Overall, recording the satisfaction serves as official proof that the mortgage obligation has been fulfilled.