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The significance of recording a satisfaction of mortgage lies in officially documenting that a mortgage has been paid off, which removes the lien from the property. This process involves the lender signing the satisfaction and filing it in public records, indicating the debt has been settled. Unlike deeds, which can be altered, recorded documents remain permanent in public records. Thus, filing a satisfaction provides clear evidence during title searches that the mortgage no longer affects the property. Additionally, it's important to obtain the promissory note, as it is considered a negotiable instrument, confirming the mortgage has been fully satisfied.