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. 【Ground for recognition of the fact-finding fact-finding 【Non-contentious fact-finding, entries in Gap evidence 1, 3, 5, and 6, and the purport of the whole pleadings;

A. On August 31, 2010, the Plaintiff sold to C the purchase price of KRW 3,200,000,000 and KRW 204,000,000 (hereinafter “instant land”). On October 6, 2010, the Plaintiff completed the registration of ownership transfer on the instant land by completing the registration of ownership transfer on the instant land from C, and completed the registration of ownership transfer on the instant land as security on the unpaid purchase price claim from C, Seoul Southern District Court, Seoul Southern District Court, as the registration office of the Seoul Southern District Court on October 13, 2010, No. 64814, the obligor C, the maximum debt amount of KRW 50,00,00,000, the Plaintiff as the mortgagee of the right to collateral security (hereinafter “the primary

B. On May 11, 201, the Plaintiff: (a) received a written statement stating that “When the order of collateral security is given to the Defendant, the Plaintiff shall receive money from the Yeongdeungpo Agricultural Cooperative and the Defendant and pay KRW 250 million until May 12, 201; and (b) paid KRW 100 million until June 11, 201,” from the F who had constructed a new building on the instant land; and (c) decided to yield the order of collateral security on the instant land to the Defendant.

Accordingly, regarding the instant land on May 12, 201, the registration of the creation of the first right to collateral security was revoked, and the registration of the establishment of the second right to collateral security was completed by the obligor C, the maximum debt amount of KRW 500 million, the mortgagee of the right to collateral security as the Defendant (hereinafter “Defendant’s right to collateral security”) under Article 3313 of the said registry office’s receipt of the same date, and the registration of the establishment of the second right to collateral security as the obligor C, the maximum debt amount of KRW 50 million, and the Plaintiff of the right to collateral security (hereinafter “the second right to collateral

C. Yeongdeungpo-gu Agricultural Cooperatives filed a voluntary auction on the instant land and commenced the Seoul Southern District Court B real estate auction procedure.

On December 20, 2013, the above court distributed KRW 135,974,680 to the Defendant based on Defendant’s right to collateral security, but the second right to collateral security is subordinate to the Plaintiff.