Federally, there's no requirement to return the paid off note to borrower A, B or A/B combo.
State: you may want to post this in your state forum below.
As an FYI, at at previous employer, if a guarantor paid off a note and requested it, we would assign the note and security agreement to them so that they could go after Borrower A for the money. The original docs were given to the Guarantor.
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