1. The defendant's appeal is dismissed.

2. The costs of appeal shall be borne by the Defendant.

Purport of claim and appeal

1...

1. Determination as to the cause of claim

(a)In full view of the absence of dispute, Gap evidence Nos. 1, 2, Eul evidence Nos. 1, 2, and 3, the records in the first instance court's Ulsan Metropolitan City, Ulsan-gu, the Minister of Court Administration, the Minister of Land, Infrastructure and Transport's fact inquiry results, and the whole purport of arguments, the following facts may be acknowledged:

① On January 27, 2004, B borrowed KRW 10,496,00 from the Defendant as of March 31, 2004, and completed the registration of creation of a mortgage on the instant land for the Defendant’s security.

However, B failed to pay the above loan after the due date, and eventually, the period of transferring the above land by payment in lieu of the above loan shall be the period of transferring the above land. October 21, 2004, the registration of ownership transfer of the above land was completed to the defendant.

② On July 14, 2004, the trustee in bankruptcy of the Ulsan Credit Cooperative was determined to provisionally seize the land of this case on the basis of joint and several surety claims against B (Ulsan District Court 2004Kadan9834), and the above provisional attachment decision was registered on July 15, 2004.

On the other hand, on July 3, 2006, the plaintiff (formerly, the Corporation for Liquidation) acquired the above joint and several liability claim against B from the trustee in bankruptcy of the Ulsan Credit Union, and around that time, the notice of the assignment was served to B.

Afterwards, the Plaintiff filed a lawsuit against B claiming the above transfer money of KRW 9.9 million and damages for delay thereof (Ulsan District Court 2007 Ghana107708), and the court rendered a decision of performance recommendation ordering payment of the above money on October 15, 2007, and the above decision was finalized on November 3, 2007.

3. B does not have any specific property at present.

B. According to the above facts, on October 21, 2004, the secured debt of the instant right to collateral security ceased to exist due to payment in kind B, and the said secured right also ceased to exist according to the subsidiary nature of the said secured debt.

I would like to say.

Therefore, B shall cancel the registration of establishment of mortgage of this case to the defendant based on the contract establishing a mortgage with the defendant.