Satisfaction Piece

Instrument for recording and acknowledging final payment of a mortgage loan. The lender acknowledges that the debt has been satisfied.

An Instrument for recording and acknowledging final payment of a Mortgage loan.
Example: After the mortgage loan was paid off, the borrower received a satisfaction piece, which she promptly Recorded officially.

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.