1. The Defendant shall accept the registration of Jeju District Court and January 27, 2014 with respect to each real estate listed in the separate sheet to the Plaintiff.

Basic Facts

On January 14, 2014, the Plaintiff made a promise to purchase each real estate listed in the separate sheet (hereinafter referred to as “each of the instant real estate”) from the Defendant, the birthee, in the form of KRW 130,000,000, and completed the registration of Jeju District Court and No. 7588 on January 27, 2014 with regard to each of the instant real estate based on the said promise to purchase and sell.

(hereinafter “Provisional Registration of this case.” On December 24, 2018, the Plaintiff sent to the Defendant a content-certified mail stating that the said purchase and sale reservation is completed and that subsequent procedures for ownership transfer registration are complied with.

[Ground of recognition] The Plaintiff’s assertion by the parties to the entire pleadings and the purport of Gap’s evidence Nos. 1 through 4, 7, and Eul’s evidence No. 1, and the Plaintiff exercised the right of completion according to the purchase and sale reservation concluded with the Defendant on January 14, 2014.

Therefore, the Defendant is obligated to implement the principal registration procedure based on the provisional registration of this case to the Plaintiff.

The provisional registration of this case by the defendant is not a provisional registration for the right to claim ownership transfer, but a provisional registration for security to secure the obligation of KRW 130 million borrowed by the defendant from the plaintiff.

Therefore, the plaintiff cannot comply with the plaintiff's request unless the liquidation procedures are implemented.

Judgment

Whether provisional registration is a provisional registration for security or not shall not be determined formally by the type of documents given or recorded on the registry, but shall be determined by the substance of the transaction and the interpretation of the intent of the parties.

(See Supreme Court Decisions 91Da36932 delivered on February 11, 1992, 2003Da14713 delivered on May 30, 2003, etc.). In light of the above evidence and the items stated in Articles 5 and 6, and the whole purport of the pleadings as a whole or the following facts or circumstances, it is reasonable to view the provisional registration of this case as a provisional registration for preserving the right to claim transfer of ownership based on the trade promise.

The plaintiff and the defendant