1. On July 7, 2015, the Defendant: (a) on each real estate listed in the separate sheet to the Plaintiff, the District Court of Jung-gu District.

Basic Facts

A. On July 7, 2015, with respect to each real estate indicated in the separate sheet, the ownership transfer registration for which was completed in C’s name (hereinafter “instant real estate”), the registration of creation of a mortgage on July 7, 2015, including the maximum debt amount of KRW 300 million, the debtor C, and the mortgagee, as the Defendant, was completed.

(hereinafter “instant collateral security”). B.

On August 14, 2017, the Plaintiff and the Defendant concluded a joint agreement to sell the entire land together, after purchasing the instant land in the name of the Defendant and developing a detached housing site in the name of the Plaintiff on August 14, 2017.

(hereinafter “instant joint project agreement”). C.

After concluding a sales contract with C on August 14, 2017, the Defendant completed the registration procedure for transfer of ownership in the name of the said Defendant on the 23th of the same month.

(hereinafter “instant transfer registration”) D.

The establishment registration of the real estate in this case was completed on July 6, 2018 by the Jung-gu District Court of the Republic of Korea (Seoul District Court) No. 18579, Jul. 6, 2018, the maximum debt amount of KRW 300,000, the plaintiff

(hereinafter referred to as “instant subordinated mortgage”). 【No dispute exists concerning the ground for recognition, entry of evidence No. 1-1 through 4-, and determination as to the ground for claim as a whole of the pleadings.

A. As seen earlier, after the completion of the registration of creation of the instant right to collateral security with the Defendant as the mortgagee, the registration of ownership transfer of the instant case was completed with the Defendant as the owner. In this case, it shall be deemed that the owner of the instant real estate and the mortgagee were identical to the Defendant, and the instant right to collateral security has ceased to exist due to confusion.

B. Therefore, unless there are special circumstances, the Defendant seeks cancellation of the registration of establishment of the instant right to collateral security under the name of the Defendant, insofar as the Plaintiff recognized as a subordinate mortgagee with respect to the instant real estate, barring special circumstances.