1. The plaintiff's appeal is dismissed.

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

Purport of claim and appeal

The judgment of the court of first instance.

1. Facts of recognition;

A. The Plaintiff is an organization consisting of representatives elected by the occupants in proportion to the number of households of each building in accordance with Article 43(3) of the Housing Act and Article 50 of the Enforcement Decree of the same Act to manage A apartment (a collective housing consisting of 278 households and with an elevator installed; hereinafter “instant apartment”).

B. On August 3, 2011, the Codefendants of the first instance trial (hereinafter “U.S. Co., Ltd.”) awarded a contract to the Defendant for the construction of the instant apartment, and the Defendant completed the instant apartment around 201. On August 3, 201, U.S. Co., Ltd. (hereinafter “U.S. Co., Ltd”) completed the registration of the preservation of ownership in its name regarding the instant apartment.

C. On August 3, 2011, Korea Investment Securities Co., Ltd. (hereinafter “Korea Investment Securities”) and the Defendant concluded a real estate disposal trust agreement with respect to the instant apartment by designating the truster and beneficiary, the trustee and the Defendant as the priority beneficiary, and concluded the instant trust agreement with respect to the instant apartment on the same day. On the same day, the instant apartment is registered as a trust, and the trustee has completed the registration of ownership transfer with our investment securities (hereinafter “instant trust registration”).

When the registration of the trust of this case is completed, the main contents of the trust contract of this case in the original book of trust bound in the register are as follows.

Article 8 (Maintenance and Management of Trust Contract) (1) A trustee shall preserve only the title of ownership on the register of real estate trusted, and shall manage all the lease and maintenance acts of real estate trusted under the responsibility of the truster.

Article 11 ( Originals of Trust) The originals of this Trust shall be the security deposit acquired for the trusted real estate and the trusted real estate, the property acquired by subrogation for the trusted real estate, and other equivalent property.

Article 12 (Receipt of Trust) The proceeds of this Trust shall be from the proceeds of sale of real estate in trust and real estate in trust.