The appeal is dismissed.

The costs of appeal are assessed against the Plaintiff.

The grounds of appeal are examined.

1. The judgment of the court below is the case where the plaintiff, who acquired the ownership of the mortgaged real estate from D, claims the completion of the extinctive prescription of the secured claim against the defendant, who is the right to collateral security, and seeks the cancellation of the registration

The plaintiff asserts that "the extinctive prescription of the debt of this case, which is the secured debt at the time when ownership of the mortgaged real estate was acquired, was completed, and even though D renounced the benefit of extinctive prescription, the plaintiff may invoke the extinctive prescription of the debt of this case as it does not affect the plaintiff."

As to this, the lower court rejected the Plaintiff’s claim on the ground that the validity of the waiver of the prescription interest made by D cannot be denied.

2. The Plaintiff filed an appeal on the ground that “The effect of the waiver of the prescription benefit made D is limited to D and the Defendant as the party, but does not reach the Plaintiff, the lower court erred by misapprehending the legal doctrine as to the scope of the effect of waiver of the prescription benefit.”

3. Judgment of the Supreme Court

A. In principle, waiver of the benefit of extinctive prescription is only a relative effect and does not affect any other person. However, there is no interest in directly receiving the benefit from the extinction of the right at the time of waiver of the benefit of extinctive prescription, and a person who has formed an interest in claiming the benefit of prescription only through a legal relationship with the person who has already renounced the benefit of prescription, cannot deny the effect of waiver of the benefit of prescription already made.

The reason why only the relative effect is given to the waiver of the statute of limitations benefits is that where there are many interested parties who can invoke the statute of limitations benefits at the time of the renunciation, the right to invoke the statute of limitations benefits only by either of the debtors or the like regardless of their will.