1. The defendant shall receive on September 30, 1998 from C the Changwon District Court's High Court's High Court registry office with respect to the real estate stated in the attached list.

The plaintiff is acting in subrogation of the right to claim the cancellation of the transfer of ownership as to the real estate in the attached list to C.

Article 166(1) of the Civil Act provides that "Extinctive prescription shall run from the time when the right can be exercised."

The extinctive prescription shall run from that time, as a claim without a fixed time may be exercised from that time.

On the other hand, if the secured claim of the provisional registration for security expires by prescription, provisional registration for security should be cancelled.

(See Supreme Court Decision 2006Da12701 Decided March 15, 2007). In addition to the overall purport of the pleadings in the evidence Nos. 1 through 3 and Nos. 1 and 2, the Defendant leased KRW 25 million to C on or around May 15, 1996 without fixing the due date for payment. ② The Defendant entered into a pre-sale agreement with C on or around September 24, 1998 with regard to the real estate listed in the separate sheet (hereinafter “instant real estate”) for the security of the said obligation (hereinafter “the instant provisional registration”). The Defendant completed the provisional registration of ownership transfer claim (hereinafter “the instant provisional registration”), ③ the Plaintiff had the claim for reimbursement amount of KRW 214,275,244 against the Plaintiff.

It is clear that the extinctive prescription from May 15, 1996, which was established as of May 15, 1996, against the Defendant’s claim against C, has run as of the date of the closing of argument in this case.

As of September 30, 1998, the Defendant had received the provisional registration of this case from C, for which ten years elapsed from the calendar as of the date of closing argument of this case.

Since the secured claim of the provisional registration of this case has expired by prescription, the provisional registration of this case should also be cancelled.

Therefore, the defendant is obligated to implement C the procedure for cancellation registration of the provisional registration of this case.

Thus, the plaintiff's claim of this case is accepted.