A provisional registration is filed with the lapse of the exclusion period if ten years have elapsed from the date of filing the lawsuit.

Even though a delinquent taxpayer does not own any property, he/she does not exercise his/her right to claim cancellation registration of provisional registration. Therefore, a tax creditor can exercise the right to claim cancellation registration of provisional registration in subrogation.

Daegu District Court 2016Kadan120523 Cancellation of provisional registration

Korea

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Pleadings without Oral Proceedings

November 15, 2016

1. The defendant is the defendant's White Construction Co., Ltd.

A. The Daegu District Court registered the real estate indicated in paragraph (1) with regard to the registration procedure for cancellation of a provisional registration of a trade reservation completed on 2000 ○○○○○○○○○○○○ on the attached real estate; and

B. On May 3, 2006, the Daegu District Court registered the registry office of the Daegu District Court on May 2, 2006, with respect to each one-fifth portion of the 1/5 shares of comprehensive construction of Whites Co., Ltd. among the real estate stated in paragraph (2) of the attached real estate indication procedures for the cancellation of each provisional registration of purchase and sale made on June 22, 2006 by the registry office of the Daegu District Court.

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

Cheong-gu Office

The same shall apply to the order.

1. Indication of claims: It shall be as shown in attached Form; and

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