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Recording a satisfaction of mortgage is significant because it indicates that the mortgage has been fully paid off, releasing the lender's lien on the property. The lender signs the satisfaction document, which is then filed in public records, providing a clear indication that the debt is no longer outstanding. Unlike deeds, which may have names removed, satisfaction documents serve to update the official records without being erased. This is important for maintaining a clear chain of title during future title searches. Homeowners should also obtain the promissory note after paying off the mortgage, as it is considered a negotiable instrument.