Even if the auction procedure has been completed after the execution of the right to collateral security, the auction court does not distribute the successful bid price to the person having the right to collateral security, since there is no complaint for the registration of the right to collateral security before the person having the right

Even if the auction procedure has been completed after the execution of the right to collateral security, this does not affect the registration of the right to collateral security prior to the registration of the right to collateral security, and therefore the auction court shall not distribute the successful bid price to the person

Article 3(2) of the Auction Act, Article 34(3) of the Auction Act

Plaintiff (Attorney O Young-young et al., Counsel for plaintiff-appellant)

Korea

Seoul High Court Decision 70Na3389 decided March 19, 1971

The appeal is dismissed.

The costs of appeal are assessed against the plaintiff.

The Plaintiff’s attorney’s ground of appeal is examined.

Even if the auction procedure has been completed due to the execution of mortgage by the Seoul Bank, the mortgagee of the instant real estate, the court held that even if the registration of chonsegwon was temporarily cancelled due to clerical error, the execution of the said mortgage could not affect the Plaintiff’s right to the said real estate (refer to Article 34(3) of the Auction Act), and that the auction court rejected the Plaintiff’s claim of this case under a reasonable judgment that the payment of the bid price paid by the exercise of the said mortgage does not amount to the Plaintiff who is the registered owner of the right to lease on a deposit basis (refer to Article 34(2) of the Auction Act). In so doing, the court below did not err by misapprehending the legal principles (see, e.g., Supreme Court Decision 2006Da34427, Apr. 2, 2006).

The appeal is without merit. The costs of appeal are assessed against the losing party. It is so decided as per Disposition by the assent of all participating Justices on the bench.

The presiding judge of the Supreme Court of Korea (Presiding Judge) shall be the red net shots and the white shots