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The significance of recording a satisfaction of mortgage lies in officially documenting that a mortgage has been paid off. When a lender signs this document and it is filed in public records, it indicates that the mortgage is no longer a lien on the property. Official records cannot be altered but can be supplemented with new documents to reflect changes, such as the satisfaction of a mortgage. This filing serves as proof that the debt has been settled, which is essential during title searches. It is also important for homeowners to obtain the promissory note upon payment, as it is considered a negotiable instrument.