The exclusion period of the right to the completion of the contract between the parties shall expire when the period of ten years has elapsed from the date of the initial right.

The defendant, who is the ground for provisional registration, has the right to complete the purchase and sale reservation against the delinquent taxpayer, and the period of exclusion expires after the lapse of ten years from the date of reservation. As such, the defendant is obliged to cancel the provisional registration upon request of the Republic of Korea seeking cancellation of each provisional registration of this case in subrogation

2015da23201 Cancellation of provisional registration

Korea

leAA

January 7, 2016

February 4, 2016

1. On July 24, 1998, the defendant will implement the procedure for the cancellation of registration of each transfer of ownership, which was completed on July 24, 1998 by the Cheongju District Court CC registry on each real estate listed in the separate sheet to the non-party B.

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

Cheong-gu Office

The same shall apply to the order.

1. Basic facts

A. SongB is liable to pay global income tax and value-added tax for up to 12 cases, and the base tax amount in arrears on June 26, 2015 reaches KRW 174,975,110.

B. On July 24, 1998, SongB completed on May 20, 1998 the registration of the right to claim ownership transfer on the real estate listed in the separate sheet, which was owned by the Defendant, as the Cheongju District District Court’s receipt OOOOO on May 20, 1998 (hereinafter referred to as “each of the above real estate” and “the above provisional registration” respectively).

C. AB does not have any property other than each of the instant real estates.

2. Determination

In the unilateral promise for sale, the right which would have the effect of sale by the other party of the pre-sale by expressing his/her intention of completion of the pre-sale contract, namely, the right to conclude the pre-sale contract is a kind of right to form and exercise the period of exercise within ten years if there is no such an agreement between the parties, and the right to conclude the pre-sale contract shall be extinguished upon the lapse of the exclusion period, and upon the expiration of such period, the right to conclude the pre-sale contract shall be extinguished. Furthermore, the purpose of the exclusion period is to promptly determine legal relations by allowing the right holder to exercise the relevant right promptly. Unlike the expiration of a certain period and non-exercise of the right, the extinctive prescription period brings about the effect of extinction of the right by itself, barring any special circumstance, and even if the parties have agreed specifically at the time when the right to conclude the pre-sale contract can be exercised, the exclusion period shall not be extended by 10 years if the period expires from the date on which the initial right comes into existence, and it shall not be deemed that the right can be exercised in accordance with the agreement (see, see, see, e.g.

In light of the above legal principles, the Defendant’s right to complete the purchase and sale reservation against SongB, the grounds for registration of the instant provisional registration, shall expire on May 20, 1998, when the period of exclusion expires after the lapse of May 20, 2008, which was ten years from May 20, 1998, the reservation date. Thus, the Defendant is obliged to cancel the instant provisional registration upon the Plaintiff’s request seeking cancellation of each of the instant provisional registration in subrogation of SongB.

3. Conclusion

If so, the plaintiff's claim shall be accepted for the reasons and it is so decided as per Disposition.