If a third acquisitor who has purchased an auction immovables deposits the maximum debt amount secured by the immovables and the auction expenses, he/she may demand the extinction of the right to collateral security.

If a third acquisitor who has purchased an auction immovables deposits the maximum debt amount secured by the immovables, and the auction expenses, he/she may demand the extinguishment of the mortgage.

Article 364 of the Civil Act, Article 357 of the Civil Act

Re-appellant

Seoul High Court Decision 69Ra671 delivered on February 26, 1971, Seoul High Court Decision 69Ra671 delivered on February 26, 1971

I reverse the original decision.

This case is remanded to the Panel Division of the Seoul Civil Court.

As to the ground of re-appeal:

On December 31, 1963, the court below acknowledged the following facts. The creditor corporation "A" was the debtor Eul's right to establish a mortgage contract with the amount of 3.9 million won which is stated on the original decision attached to the list of the debtor's properties at that time, and the principal of the loan is 3.5 million won as of June 23, 1965, and the debtor's right to pay the above principal and the agreed interest was terminated the above contract, and the debtor filed an application for voluntary auction of the above real properties on August 9, 1965, and the decision of permission was confirmed to permit the auction to "A" which is the creditor's 1.6 billion won as of December 31, 1963. The plaintiff acquired the above real properties on September 24, 1968, which are 960 won and the total amount of the loan was 90,000 won which was 50,000 won and 960,000 won,00 won,0 won.

Therefore, the scope of the claim amount secured by the right to collateral security is limited to the maximum amount of the claim determined by the contract to collateral security among the claims that reach the settlement period, and it does not guarantee that the maximum amount of the claim amount exceeds the maximum amount of the claim amount. Article 357 of the Civil Act, which provides the right to collateral security, shall be interpreted as above. If the third party purchaser of the auction real estate deposits the repayment of the maximum amount of the claim and the auction expenses on behalf of the debtor on behalf of the debtor, the third party purchaser may claim the extinction of the right to collateral security pursuant to Article 364 of the Civil Act, and this is an inherent right of the third party purchaser, which shall be considered as the third party purchaser's own right, notwithstanding the previous precedents (Supreme Court Decision 71Da46 delivered on April 6, 1971), but the court below recognized that the third party purchaser's deposit the entire amount of the registered maximum amount of the collateral security amount is 3.9 million won and the third party purchaser's deposit the entire amount of the auction expenses, which cannot be reversed by misapprehending the above legal principles as to the effect of the decision on collateral security.

Therefore, it is so decided as per Disposition with the assent of all participating judges.

The judges of the Supreme Court (Presiding Judge) shall have the right to ask questions to the public on the Red Round Puls