Cancellation of provisional registration due to the expiration of the exclusion period of the right to complete sale reservation;

The right to conclude a pre-sale is a kind of right to form a contract and, if there is no such an agreement, shall exercise it within such period, or within 10 years from the time the reservation is made, and when such period expires, the right to conclude the pre-contract shall expire upon the lapse of the exclusion period.

Article 564 (Unilateral Promise for Sale) of the Civil Act, Article 24 (Attachment) of the National Tax Collection Act

2018dan5165151

Korea

AA

Pleadings without Oral Proceedings

November 07, 2018

1. The defendant shall have jurisdiction over the real estate listed in the separate sheet to BB by the Daegu District Court Branch Branch of Pohang Port, 2004.

5. The procedures for the cancellation of the provisional registration of the right to claim ownership transfer, completed under No. 0000 of the receipt, will be implemented.

2. The costs of the lawsuit are assessed against the defendant.

Cheong-gu Office

The same shall apply to the order.

1. Indication of claim;

The reasons for the attached Form shall be as shown in the attached Form.

2. Judgment without holding any pleadings;

Articles 208(3)1 and 257(1) of the Civil Procedure Act

Grounds of Claim

1. Basic facts

(a) Relationship between parties;

The plaintiff is a creditor who holds a tax claim of KRW 000,000,000 against the non-party BB (hereinafter referred to as "B"), and the defendant AA (hereinafter referred to as "the defendant") made a provisional registration on the real estate stated in the attached Table under the receipt No. 00000 on May 21, 2004 (Evidence No. 1 and Evidence No. 2).

(b)the existence of preserved claims;

The Plaintiff has a taxation claim of KRW 000,000,000 as of the filing date, including the capital gains tax of KRW 000,000,000, which is due date for payment on May 16, 2011 against BB, as shown in Table 1 below.

C. The Plaintiff’s seizure of real estate of this case

The director of the tax office of distribution under the Plaintiff did not pay the capital gains tax notified to BB by the demand deadline, and seized the real estate listed in the attached Table on May 18, 201 for the collection of national taxes on BB.

2. Expiration of the exclusion period of the right to complete the reservation and termination of the provisional registration of this case;

(a) Period of exclusion from the right to make a reservation;

The precedent held that "the right of the other party to the purchase and sale by expressing his/her intention of the completion of the purchase and sale reservation, i.e., the right to the completion of the purchase and sale reservation, if the parties agree to the exercise period as a kind of right to the formation of the purchase and sale reservation, within such period, and within 10 years from the time of the establishment of the reservation, and when there is no such agreement, the right to the completion of the reservation becomes extinct upon the lapse of the exclusion period" (see, e.g., Supreme Court Decision 2000Da26425, Jan. 10, 2003).

B. The exclusion period of the provisional registration of this case

The fact that the defendant completed the registration of the right to claim transfer of ownership on May 21, 2004 with respect to the real estate listed in the attached list on the ground of the promise to sell and purchase this case on May 17, 2004 is as seen above.

Therefore, the defendant's right to conclude the purchase and sale reservation of this case terminated upon the expiration of the exclusion period of ten years after the establishment of the reservation of this case on May 17, 2004, and accordingly the provisional registration of this case should be extinguished.

C. Sub-decision

As above, the defendant is obligated to implement the cancellation registration procedure of the provisional registration of this case, which was completed with respect to the real estate listed in the attached list to BB. Accordingly, the plaintiff is bound to file the lawsuit of this case claiming the defendant to cancel the provisional registration of the right to claim ownership by subrogation of BB.

3. The exercise of rights by BB and the exercise of rights by subrogation by the plaintiff;

A. The necessity to cancel the provisional registration of this case for the disposition on default of the Plaintiff (sale of seized property)

Since BB did not pay delinquent taxes after the attachment disposition on the real estate listed in the attached list, the Plaintiff intends to request a public auction on the attached property to the Asset Management Corporation pursuant to Article 61 of the National Tax Collection Act for the disposition of arrears. However, it is reasonable to deem that there is a concern for cancellation of the decision of sale when the principal registration on the provisional registration prior to the transfer of ownership is made, and accordingly, in order to sell the attached property due to the disposition on default due to the impossibility of public auction, the provisional

B. Exercise of rights by BB and Plaintiff’s subrogation

As seen earlier, the Defendant’s provisional registration of this case expired without exercising the right to complete the purchase and sale reservation, and the period of exclusion expires. As such, the Defendant is obliged to implement the procedure for the cancellation registration of the provisional registration of this case, which was completed to BB on real estate listed in the attached list.

However, BB does not exercise its right against the defendant (right to claim for the cancellation of the provisional registration of ownership transfer), so the plaintiff is not satisfied with the taxation claim of KRW 00,000,000 up to now, and it is inevitable to exercise the right of BB for the preservation of the preserved claim.

4. Insolvent of BB;

BB currently is insolvent due to excess of obligations as follows:

As of the date of filing a lawsuit, the active and passive properties of BB are as listed in the table 2 below, but since the provisional registration of the right to claim ownership transfer based on the purchase and sale of real estate listed in the attached list is established, and it is virtually impossible to repay through compulsory execution, it is therefore impossible to determine whether the creditor is insolvent, which is the requirement of subrogation, due to the lack of property value (see, e.g., evidence 2, subparagraph A and evidence 3).

5. Conclusion

As above, the Plaintiff filed the instant lawsuit by demanding the Defendant to cancel the provisional registration of this case on the ground of the right to complete reservation for which the limitation period has expired on the real estate stated in the attached list, in subrogation of BB as a tax claimant against BB, and by subrogation of BB. The Plaintiff’s claim is reasonable, and the main time is to accept the Plaintiff’s claim.