a donation to his wife and mother of real property constitutes a fraudulent act

The gift of real estate to his mother under excess of his obligation and completed the registration of transfer of ownership, and the gift of real estate to the Defendant who is his wife and completed the registration of transfer of ownership is a fraudulent act and thus the above gift contract between the Defendants should be revoked.

2013 Gohap 235 Revocation of Fraudulent Act

Korea

The AAA et al.

Pleadings without Oral Proceedings

June 28, 2013

1. With respect to each real estate listed in Tables 1 and 2 attached hereto, the number of real estate shall be calculated;

A. Defendant YAA and Nonparty BB cancel the gift agreement concluded on December 20, 2010, and BB; (b) Defendant YA will implement the procedure for registration of cancellation of ownership transfer, which was completed under the receipt No. 10583, Dec. 27, 2010, to Nonparty B by the Cheongju District Court Branch of the District Court, Cheongyang Branch of the District Court, Cheongyang Branch of the District Court.

2. (a) Defendant AA and Nonparty BB cancel the donation agreement concluded on December 20, 2010 with respect to the real estate listed in paragraph (3) of the attached Table of Real Estate List between Defendant A and Nonparty B, within the limit of KRW 00,00, while Defendant A shall pay to the Plaintiff 5% interest per annum from the day following the day when the judgment became final and conclusive to the day of full payment.

3. A. The gift agreement entered into on December 20, 2010 between Defendant CCC and Nonparty BB with respect to real estate listed in the separate sheet (2) shall be revoked within the limit of KRW 000,00, and shall be revoked.

B. Defendant JointCC shall pay to the Plaintiff 00 won and 5% interest per annum from the day following the day when the judgment became final and conclusive to the day of full payment.

4. The costs of lawsuit shall be borne by the Defendants.

The same shall apply to the order.

1. Indication of claim;

A. The Plaintiff holds a total of KRW 000 tax claim against Nonparty BB.

B. On December 20, 2010, Nonparty B donated each real estate listed in the Schedule of Real Estate (1) to Defendant YA, his mother, the Defendant’s mother on December 20, 2010, and completed the registration of ownership transfer on December 27, 2010. On December 20, 2010, Nonparty B donated the real estate listed in the Schedule of Real Estate (2) to Defendant ASEAN, one’s wife, and completed the registration of ownership transfer on December 27, 2010.

C. Each of the above gift agreements between the non-party BB and the Defendants is a fraudulent act, and must be revoked, and each of the above transfer registrations must be revoked.

(d) However, with respect to the real estate listed in paragraph 3 of the Schedule I of the Attached Real Estate (1), the right to collateral security has been established after the fraudulent act, and with respect to the real estate listed in the Schedule II of the Attached Real Estate (2), the ownership has been transferred to a third party acting in good faith after the fraudulent act, and each of the above real estate is unable

2 Applicable provisions

Article 208(3)1 of the Civil Procedure Act (Judgment without holding any pleadings following the submission of a written reply)