A. On September 23, 2009, the Plaintiff loaned KRW 290,000,000 (hereinafter “instant loan”) to B, the Defendant offered its ownership as security the Plaintiff with the multi-family housing for the second floor of the Eunpyeong-gu Seoul Metropolitan Government ground brick C ground slive Slive Slives Shelf (hereinafter “instant real estate”). On September 25, 2014, the Plaintiff completed the registration of creation of a mortgage over KRW 377,00,000 for the instant real estate in the future of the maximum debt amount.

B. Meanwhile, in the course of implementing a housing redevelopment project, a search-related promotion zone and a housing redevelopment and rearrangement project association did not reach an agreement on the expropriation of the instant real estate while implementing the housing redevelopment project, the local Land Tribunal of Seoul Special Metropolitan City rendered an application for adjudication on expropriation of KRW 631,431,960 on the instant real estate, and received the adjudication of expropriation of KRW 631,431,960 on September 9, 2015, the Defendant was deposited with the Seoul Western District Court as the principal deposit and completed the registration of transfer of ownership on September 11, 2015 on the instant real estate on September 5, 2015.

C. The Defendant paid all the deposited money around September 9, 2015. On November 4, 2015, the registration of the establishment of the establishment of the instant real estate, which was established on the instant real estate, was cancelled due to the land expropriation on September 11, 2015.

[Ground of recognition] Facts without dispute, entry of Gap evidence 1 to 18, purport of the whole pleadings

2. Determination

(a) A mortgagee (including a pledgee) may exercise a subrogation right on money or other things acting for the owner of the mortgaged subject matter due to the loss, damage or expropriation of the things which are the subject matter of the mortgage (including the pledge right), but if the mortgagee has received money or other things on the basis of the claim for delivery before such payment or delivery (Article 370 and Article 342 of the Civil Act).