1. The plaintiff's claim is dismissed.

2. The costs of lawsuit shall be borne by the Plaintiff.

1. Basic facts

A. On September 18, 2002, the Plaintiff entered into a sales contract with D to purchase KRW 150 million (hereinafter “instant sales contract”) of KRW 4673 square meters (hereinafter “instant real estate”) in the East Sea as of September 18, 2002, and as the special terms and conditions of the said sales contract, D is deemed to read “D shall keep the name transfer document in the future of the person designated by the Plaintiff.”

B. In purchasing the instant real estate on November 29, 2002, the Plaintiff and the Defendant concluded an agreement with the Plaintiff on November 29, 2002 that the Plaintiff shall bear KRW 50 million to purchase the said real estate with KRW 1/3 shares and KRW 100 million to purchase the said real estate with KRW 2/3 shares, and that the Defendant shall solely transfer the instant real estate to the Defendant’s name

(hereinafter referred to as "the title trust agreement of this case").

The defendant completed the registration of ownership transfer on November 27, 2002 on the real estate of this case on November 27, 2002.

[Grounds for recognition] The descriptions of Gap evidence Nos. 2, 3, 6, and 7, and the purport of the whole pleadings

2. Determination

A. The Plaintiff’s assertion and the Defendant jointly purchased the instant real estate and registered 1/3 of the Plaintiff’s share in the name of the Defendant under title trust. Since the Plaintiff expressed its intent to terminate the instant title trust agreement on August 26, 2014, the Defendant is obligated to implement the registration procedure for ownership transfer based on the termination of the instant title trust agreement to the Plaintiff.

B. On the other hand, the instant sales contract was determined by the Plaintiff to purchase the instant real estate from D as a party to the instant sales contract, and the registration title was decided to the Defendant. Thus, the title trust agreement between the Plaintiff and the Defendant constitutes a three-party registered title trust.

According to the Act on the Registration of Real Estate under Actual Titleholder's Name, in the case of a so-called three-party title trust, a title trust agreement and registration according thereto are null and void, and as a result, the real estate under title trust is returned to the seller, and the seller