The right to complete the purchase and sale reservation shall be extinguished by the expiration of the exclusion period.

The right to the completion of the pre-sale agreement shall be exercised within the period of the exercise, if the parties agree on the period of the exercise, or within ten years from the time the reservation is made, if no agreement is reached, and if the period is exceeded, it shall be extinguished upon the lapse of the exclusion period.

Article 24 of the National Tax Collection Act

2015 Mada10941 Cancellation of provisional registration

Korea

BAA

Pleadings without Oral Proceedings

August 25, 2015

1. The defendant will implement the procedure for the cancellation of the registration of the right to claim transfer of ownership, which was completed on June 28, 1995 by the receipt OOOOOO in the Jeonju District Court, Jeonju District Court, Jeonju District Court, Eup branch court, and Eup branch court.

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

Cheong-gu Office

The same shall apply to the order.

2. Judgment without holding any pleadings: Article 208(3)1 and Article 257 of the Civil Procedure Act;

[Attachment]

Grounds of Claim

1. Relationship between parties;

On November 6, 1996, the plaintiff seized the real estate listed in the separate sheet (hereinafter referred to as "the real estate of this case") and the defendant has the honor to make a provisional registration of the right to claim ownership transfer (hereinafter referred to as "provisional registration of this case") on the real estate of this case due to trade reservation.

2. Seizure of the Plaintiff’s real estate

On November 6, 1996, the plaintiff seized the real estate of this case in order to collect the delinquent amount of the non-party BB(hereinafter referred to as "B")'s non-party BB(hereinafter referred to as "B"), and related national taxes of BB are as shown in Table 1.

The amount of delinquent local taxes related to the attachment of Table 1 (the base date: May 28, 2015)

Sub-Items :

Management Number

Date of Notification

Deadline for payment

Notice Tax Amount

Amount of delinquent tax

Jinay

guidance.

281,616,010

488,810,210

Transfer Income Tax

OOOO

194.04.01

94.04.30

5,835,550

10,048,010

Dobong

Transfer Income Tax

OOOO

5.01

196.05.31

29,962,870

407,034,010

Action

Transfer Income Tax

OOOO

5.01

196.05.31

10,179,860

8,740,360

Action

Securities Transaction Tax

OOOO

December 01, 1998

December 31, 1998

5,000

57,750

Guro

Transfer Income Tax

OOOO

199.04.01

199.04.30

35,513,980

62,859,270

Guro

Securities Transaction Tax

OOOO

204.05.01

204.05.31

68,750

70,810

Guro

3. Termination due to the lapse of the exclusion period of the right to complete trade reservation;

On April 30, 1995, the Defendant and BB entered into a pre-sale agreement with respect to the instant real estate owned by BB, and the Defendant made the provisional registration of this case on June 28, 1995.

In the unilateral promise for sale, the right of the other party to the promise to make the trade effective by expressing his/her intention of completion of the trade promise, that is, the right of completion of the trade promise, if it is a kind of right to form and exercise period between the parties, within such period, and if not, within 10 years from the time the reservation is made, it shall exercise the right within such period, and when such period expires, the right of completion of the reservation shall be extinguished upon the lapse of the exclusion period (see Supreme Court Decision 2000Da26425, Jan. 10, 200).

Therefore, the defendant's right to complete the purchase and sale reservation of the real estate of this case has expired after the lapse of the exclusion period as of April 30, 2005, which was 10 years from April 30, 1995, the date of sale reservation. The defendant's provisional registration of this case has become invalid due to the occurrence of the cause.

4. The debtor's insolvency; and

The active properties of BB as of the date of the lawsuit are as listed in Table 2 below.

Table 2 [affirmative of Debtor BB as of the date of filing a lawsuit]

(unit: Won)

Location

Individual Land Price

non-higher

OO also OOOO-O forest land 7,240 square meters in OO-O forest land

10,136,00

The real estate of this case

OO also OOOO-O forest land of 3,366 square meters

5,217,300

OO also 1,404 square meters prior to OO-O-O

7,806,240

However, in the event a provisional registration of the preservation of the right to claim transfer of ownership has already been completed in the name of a third party in the debtor's active property, it is practically impossible to repay through compulsory execution. Thus, barring any special circumstance, such as that the provisional registration is possible to sell through compulsory execution as a provisional registration of security provided for in the Act on Provisional Registration, Security, etc., the above real estate shall be excluded from the calculation of active property as it has no property value (see Supreme Court Decision 2008Da76556, Feb. 26, 2009). As of the date of lawsuit, active property of BB, as of the date of lawsuit, is 13,023,540 won except the instant real property.

On the other hand, as mentioned above, BB’s delinquent amount of national taxes as of the date of filing the suit reaches KRW 488,810,710, as stated in the preceding 488,810,710. In the end, BB is the status of insolvency in excess of positive property as of the date of filing the suit

5. Non-exercise of the debtor's right and subrogated exercise.

The defendant's right to conclude the purchase and sale reservation of the real estate of this case expired after the lapse of the exclusion period as of April 30, 2005, which was 10 years from April 30, 1995, the date of sale reservation. The defendant's provisional registration of this case was completed due to the occurrence of the cause, and thus invalid, it shall be cancelled.

Nevertheless, as the tax obligor B does not seek the cancellation of the provisional registration of this case against the Defendant, the Plaintiff has filed the instant lawsuit by subrogation of BB for the preservation of the taxation claim of BB in the amount of KRW 488,810,710 against B.

6. Conclusion

Therefore, we accept the Plaintiff’s claim of this case and state time.