satisfaction piece


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satisfaction piece

A document, prepared and executed in such manner as to be appropriate for recording in real estate records, evidencing the fact that an encumbrance has been discharged.
References in periodicals archive ?
Within 60 days of delivery of that notice, the lender must either record the satisfaction piece or send a response detailing why the mortgage should not be satisfied.
Complex problems can ensue for the borrower, his mortgage company and title insurer if the satisfaction piece is not timely recorded in the county records office to indicate that the lien has been lifted.