Satisfaction Piece Law and Legal Definition

Satisfaction piece refers to an official instrument which acknowledges that an obligation is satisfied. For example, a lender acknowledging the satisfaction of a debt.

A satisfaction piece executed by attorneys of record within two years after entry of judgment, although acknowledged after such period, should be accepted and filed by county clerk. [Mutual Life Ins. Co. v. 960 Fifth Ave. Corp., 191 Misc. 71 (N.Y. Misc. 1947)]

In Lownds v. Remsen, 7 Wend. 35 (N.Y. 1831), the court held that “a satisfaction-piece is not a record; until entered on the roll, it does not partake of the nature of a record, nor does the statutory provision on the subject directing the mode of its acknowledgment give it that character or effect.”