Final answer:
The lender requires the mortgage to be recorded in the county where the property is situated, which in this case is Lake County, Florida. This action legally documents the lender's interest in the property and maintains the public record.
Step-by-step explanation:
The question concerns the legal procedure of recording a mortgage for a property. In the United States, the recording of real estate documents, such as mortgages, is a county-level matter. Therefore, the lender's requirement to record the mortgage for the purchased home in Lake County, Florida means that the mortgage must be recorded with the official records of Lake County.
It does not matter where the homeowners currently reside or where their business is located. The property's geographic location determines where the mortgage should be recorded. Accordingly, the mortgage is to be recorded in the county where the property is situated to establish a public record and to protect the lender's interest in the property.
Recording a mortgage provides notice to the public that the lender has an interest in the property and establishes the lender's priority in the event of default or sale. It's a crucial step in the home buying process that ensures the legal rights of property ownership and any claims on that property are properly documented in the public records.