1. The plaintiff's appeal is dismissed.

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

The purport of the claim and appeal is the purport of the appeal.

1. Basic facts

A. On November 22, 2004, G entered into a sales contract with the J, the former owner, by designating the purchase price of KRW 1,018,000,000,000 as the purchase price and one other than G, as the purchase price with regard to Ulsan-gun, Ulsan-gun, Ulsan-gun, as the investment of real estate purchase funds from the Defendant, D, etc. (hereinafter “instant real estate”). On May 31, 2007, G completed the registration of ownership transfer in the name of D on March 22, 2005.

B. As to the instant real estate, on September 15, 2005, the maximum debt amount of KRW 170,000,000,000, the debtor D, and the mortgagee, as the defendant, completed the registration of creation of a neighboring mortgage (hereinafter “registration of creation of a neighboring mortgage of this case”).

C. On May 9, 2012, E, the mortgagee of the instant real estate, applied for a voluntary auction to the Ulsan District Court F with regard to the instant real estate (hereinafter “instant auction”), and the salary class of the corporation is KRW 741,360,000 in the said auction procedure, and completed the registration of ownership transfer on June 20, 2013 after receiving a successful bid for the instant real estate.

Meanwhile, on July 25, 2013, the Defendant, who was the 7th secured mortgage regarding the instant real estate, was distributed KRW 66,123,732 on the date of distribution of the instant auction procedure.

[Ground of recognition] Facts without dispute, Gap evidence Nos. 1, 2, and 4, the purport of the whole pleadings

2. Determination on the cause of the claim

A. The gist of the Plaintiff’s assertion is that G purchased real estate from several persons, including the Plaintiff, the Defendant, and D, with the investment of the purchaser of the real estate. The registration of ownership transfer is made under the name of D, and the remaining investors secured a security for the investment amount by completing the registration of creation of a collateral for the amount invested by each person as the maximum debt amount.

However, with the purchase price of the instant real estate, the Plaintiff jointly purchased 6957 square meters of the instant real estate 480,099 square meters by investing KRW 120,000,000, and the Defendant jointly purchased KRW 50,000,000,000,000, and the registration of the establishment of a neighboring mortgage with the maximum debt amount of KRW 170,000 under the name