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The significance of recording a satisfaction of mortgage lies in its confirmation that the mortgage has been fully paid off. This process involves the lender signing a document that gets filed in public records, officially indicating that the mortgage is no longer a lien on the property. It's important to note that public record books are permanent; documents are added but not removed, meaning satisfaction indicates a change in the chain of title. When recorded, a satisfaction of mortgage clarifies that the debt is settled. Homeowners should also obtain the promissory note upon payoff, as it can be considered a negotiable instrument, underscoring its importance.