The judgment below is reversed, and the case is remanded to the Incheon District Court Panel Division.

The grounds of appeal are examined.

1. Where a title trustee acquires the title of ownership of real estate pursuant to the title trust agreement before the enforcement of the Act on the Registration of Real Estate under Actual Titleholder’s Name (hereinafter “Real Estate Real Name Act”), the title truster would have terminated the title trust agreement and could have acquired the ownership of the pertinent real estate at any time before the grace period under Article 11 of the Real Estate Real Name Act expires after the enforcement of the said Act. The title truster’s title trust agreement becomes null and void pursuant to Articles 12(1) and 4 of the said Act upon the lapse of the grace period without taking measures such as real name, etc.

However, since Articles 3 and 4 of the Real Estate Real Name Act prevent the title truster from reverting ownership, the title trustee is obligated to return the pertinent real estate acquired by him/her to the title truster for unjust enrichment (see, e.g., Supreme Court Decisions 2000Da21123, Dec. 26, 2002; 2008Da62687, Nov. 27, 2008). On the contrary, the title truster’s right to claim for the transfer registration of ownership against the title trustee for the restoration of the pertinent real estate due to its nature is a right to claim for the return of unjust enrichment under the provisions of law, and the prescription expires after the lapse of ten years pursuant to Article 162(1) of the Civil Act.

(See Supreme Court Decision 2009Da23313 Decided July 9, 2009). (See Supreme Court Decision 2009Da23313, Jul. 9, 2009) Review of the reasoning of the lower judgment and the evidence duly admitted reveals the following facts.

The Plaintiff entered into a title trust agreement with the Defendant, H and D (hereinafter “the Defendant, etc.”) to purchase C Forest 149,520 square meters (hereinafter “the instant forest”) and complete the registration of ownership transfer in the Plaintiff’s future, and purchased the instant forest from the seller’s agent F and purchased it on March 16, 1995.