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The significance of recording a satisfaction of mortgage lies in acknowledging that the mortgage has been fully paid off. This process involves the lender signing a document that, once recorded in public records, shows that the mortgage is no longer a lien on the property. It's important to note that official record books do not remove documents; instead, they maintain a record of changes, such as the satisfaction, for future title searches. Documenting the satisfaction clarifies that the debt has been settled. Additionally, it's advisable to obtain the promissory note after paying off the mortgage, as it can be considered a negotiable instrument.