Unless an agreement is reached, the right to complete the purchase and sale reservation shall be exercised within ten years.

The right to conclude a pre-sale is a kind of right to form a contract and, if there is no such an agreement between the parties, within the period of exercise, or within 10 years from the time of establishment of the pre-contract, and when such period expires, the right to conclude the pre-contract shall expire upon the lapse of the exclusion period.

Civil Act

2018 Mada27126 Cancellation of provisional registration

Korea

○ ○

August 31, 2018

1. On August 14, 2000, the Defendant shall implement the procedure for the cancellation registration of the provisional registration of the right to claim for share transfer registration, which was completed by the ○○○○○○ on each real estate listed in the separate sheet, to Nonparty AA.

2. The costs of the lawsuit are assessed against the defendant.

Cheong-gu Office

The same shall apply to the order.

1. Indication of claim;

The reasons for the attached Form shall be as shown in the attached Form.

2. Applicable legal provisions;

Article 208 (3) 1 of the Civil Procedure Act)

Cheongwon of the Gu

1. Circumstances leading to the request;

A. The Plaintiff has a tax claim ○○○ (00 won) for which the extinctive prescription has not been completed against Nonparty A. The Plaintiff seized the real estate listed in the [Attachment List] owned by Nonparty AA (hereinafter referred to as “instant real estate”) from the ○○ Tax Office under the Plaintiff’s control on August 12, 2016 to the ○○○○○○○○○○, which was received on August 12, 2016, but did not take a disposition for arrears due to the provisional registration

B. The Plaintiff filed the instant lawsuit in lieu of Nonparty AA’s right to claim the cancellation of the provisional registration for transfer of ownership by exercising the right to claim the cancellation of the provisional registration.

2. As to the Plaintiff’s establishment of the preserved claim (tax claim)

The head of the ○○○ Tax Office under the Plaintiff shall notify Nonparty A of the value-added tax by the due date on 2015.30. 30, 2015, but, as of the date of the filing of the lawsuit, he/she has a tax claim for the gold ○○○○ won, the extinctive prescription of which has not been completed against

3. Nonparty AA has the right to request the Defendant to cancel the provisional registration of the right to claim ownership transfer.

A. On August 10, 200, Nonparty AA and Defendant BB made a registration of ownership transfer claim under the Cheongju District Court and the ○○○○○○○○ on August 14, 2000 on the instant real estate on the ground of a pre-sale promise on August 10, 200.

B. According to the Supreme Court Decision 200Da26425 Decided August 10, 200, which held that the provisional registration of this case with respect to the real estate of this case was made on August 10, 200, and Supreme Court Decision 2000Da26425 Decided October 10, 200, the provisional registration of this case has the effect of sale by expressing the other party's declaration of the completion of the contract in the unilateral promise for sale, i.e., the right to conclude the sale promise is a kind of formation right, and if there is no such an agreement between the parties, the right to conclude the sale promise shall be exercised within the period, and if there is no such agreement, within 10 years from the date the reservation was made, the right to conclude the contract shall be extinguished by the expiration of the exclusion period (see, e.g., Supreme Court Decision 200Da26425, supra).

4. Necessity of the insolvency and exercise in subrogation of the non-party AA

Nonparty AA had no property other than the real estate listed in the attached list and currently is insolvent. On August 12, 2016, the Plaintiff seized the instant real estate by the receipt ○○○○○ on the receipt of the disposition on a public auction in order to secure tax claims through compulsory execution, but it was confirmed that the instant provisional registration is impossible to sell the real estate due to the instant provisional registration.

5. Conclusion

As above, although Nonparty AA had the right to claim the cancellation registration of the provisional registration of this case on the real estate of this case, it is difficult for the Plaintiff to realize the tax claim due to its failure to exercise the right to claim the cancellation registration of the provisional registration of this case. Accordingly, in order to realize the tax claim by exercising the right to claim the cancellation registration of the provisional registration of ownership transfer against the Defendant of Nonparty AA, the Plaintiff accepted the Plaintiff’s claim in subrogation of the right to claim