The appeal is dismissed.

The costs of appeal are assessed against the defendant.

The grounds of appeal are examined.

1. Article 267 of the Civil Act provides that “If a co-owner renounces his/her share or dies without a successor, his/her share reverts to the other co-owners in proportion to their shares.”

Here, the renunciation of co-ownership constitutes a single act committed by the other party as a juristic act, and thus, even if the intent of the co-owner to waive co-ownership reaches the other co-owners, it does not immediately take effect of the change in real rights due to the waiver of co-ownership, and the other co-owners acquire the right to claim ownership transfer registration with respect to co-ownership to be reverted to themselves, and then the change in real rights due to

(See Supreme Court Decision 65Da301 delivered on June 15, 1965). Moreover, registration following the renunciation of co-ownership by a co-owner of real estate should be the form of registration of ownership transfer for the relevant shares to another co-owner.

2. The reasoning of the lower judgment reveals the following facts.

The Plaintiff owned the shares of 289.45/990 (hereinafter “Plaintiff’s previous shares”) among the 2,472.4m2 (hereinafter “instant real estate”), and D owned the shares of 199.29/99/990 of the instant real estate (hereinafter “D shares”).

B. On September 11, 2002, D submitted a complaint containing an expression of intent that “to waive D’s equity” was filed against 28 co-owners of the instant real estate at the time of filing a lawsuit for the transfer registration procedure against the Plaintiff, including the Plaintiff.

On April 11, 2003, the court rendered a ruling that "the 28 co-owners shall take over the procedure of ownership transfer registration for the reason of renunciation of share on January 13, 2003 with respect to the share based on the share ratio of 28 co-owners among D shares," and the above ruling became final and conclusive around that time.

C. The registration of ownership transfer under the above judgment has not been completed.