All appeals are dismissed.

The costs of appeal are assessed against the Defendants.

The grounds of appeal are examined (to the extent of supplement in case of supplemental appellate briefs not timely filed).

1. The possessor, for whom the period of prescription for acquisition of ownership by possession has expired, has the right to claim the ownership transfer registration based on the prescriptive acquisition against the owner at the time of the completion of the prescription, and thus, the third party, who has acquired the ownership of the real estate after completing the registration of ownership transfer, may not claim against

(2) In light of the above legal principles, the possessor may claim for the completion of the acquisition by prescription against the owner in principle, inasmuch as the possessor does not lose his/her right to claim the transfer of ownership against the owner at the time of the completion of the acquisition by prescription, but only becomes unable to perform his/her right to claim the transfer of ownership against the possessor at the time of the completion of the acquisition by prescription.

(see, e.g., Supreme Court Decision 90Da14225, Jun. 25, 1991). Meanwhile, when the registration of ownership transfer of real estate has been completed in the future in accordance with a trust contract under the Trust Act, the ownership of real estate is entirely transferred to the trustee and the ownership of real estate is not reserved against the truster in the internal and external relationship with the truster.

(2) The trust property under the Trust Act is separate from the trustee’s own property or other trust property and is managed independently (see, e.g., Supreme Court Decision 2000Da70460, Apr. 12, 2002). However, even if a trust property falls under the ownership of a trustee due to external appearance, the relationship of rights cannot be treated equally as the trustee’s own property or other trust property.

(see, e.g., Supreme Court Order 2002Ma2754, Dec. 6, 2002). It is intended to guarantee such principle of independence of trust property.