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The significance of recording a satisfaction of mortgage lies in officially documenting that the mortgage has been paid off, which is important for property records. When a lender signs the satisfaction and it is recorded, it indicates that the mortgage is no longer a lien on the property. This process involves adding a document to public records, as official record books do not remove documents. Recording the satisfaction confirms that the debt has been paid in full and is crucial for anyone conducting a title search. Additionally, homeowners should obtain the promissory note upon payoff, as it can be considered a negotiable instrument.