1. The Defendant received KRW 51,450,013 from the Plaintiff simultaneously with the Plaintiff’s payment:

(a) real estate listed in the annex;

1. Facts of recognition;

A. The Plaintiff is a reconstruction association established on May 30, 2005 pursuant to the Act on the Maintenance and Improvement of Urban Areas and Dwelling Conditions for Residents (hereinafter “Urban Improvement Act”), which was established for the purpose of removing the buildings of the instant project area and constructing new apartment complexes by removing the buildings of the land D, E, F, G, and H apartment complex on the land of Bupyeong-gu Incheon Metropolitan City and seven parcels (hereinafter “instant project area”), and was subject to authorization for the implementation of the project on January 6, 2006, the authorization for the alteration of the project on April 9, 2012, and the authorization for the management and disposal plan on December 30, 2015.

B. The Defendant is the Plaintiff’s member who owns the real estate in the attached Form (hereinafter “instant real estate”) located within the instant business zone.

On May 31, 2012, the Plaintiff received an application for re-sale as determined by June 29, 2012 from its members for the application for parcelling-out, and thereafter extended the expiration date of the application on July 19, 2012, but the Defendant did not apply for parcelling-out.

The Plaintiff exercised the right to demand sale by serving a duplicate of the instant complaint on the Defendant.

C. As a result of the market price appraisal of the instant real estate on July 20, 2012, the appraisal value based on the transaction comparison method was 86,400,000 won.

Meanwhile, the instant real estate was established with the maximum debt amount of KRW 42,00,000,00, which was completed on January 3, 2013 by the Incheon District Court No. 4444, and the right to collateral security, which is a national bank for the debtor, the defendant, and the right to collateral security. As of April 20, 2017, the principal and interest of the relevant claim is KRW 34,949,987

[Ground of recognition] Unsatisfy, Gap evidence Nos. 1-7, and appraiser I's request for market price appraisal, the result of this court's response to the submission of financial data to the National Bank of Korea, the purport of the whole pleadings

2. Determination

A. If a partner who has agreed to establish an association in a housing reconstruction project under the relevant legal principles becomes eligible for cash settlement under Article 47 of the Act on the Maintenance of Urban Areas and Dwelling Conditions for Residents due to reasons such as not applying for parcelling-out, etc., he/she shall lose his/her status as a partner and thus, he/she is equivalent to