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The significance of recording a satisfaction of mortgage lies in officially demonstrating that the mortgage has been paid off, thus removing the lien from the property. When a lender signs the satisfaction document, it is filed in public records, indicating that the debt has been fulfilled. Unlike removing a name from a deed, official record books maintain all documents permanently, with satisfaction records showing changes in the chain of title. Obtaining the promissory note upon mortgage satisfaction is also crucial, as it can be a negotiable instrument. In summary, recording a satisfaction of mortgage is essential for confirming the absence of a lien and documenting that the debt is settled.