The appeal is dismissed.

The costs of appeal are assessed against the defendant.

The grounds of appeal are examined (to the extent of supplement in case of supplemental appellate briefs not timely filed).

1. The Act on the Registration of Real Estate under Actual Titleholder’s Name (hereinafter “Real Estate Real Name Act”) defines as “title trust agreement” an agreement between a person having the actual right to real estate and another person to have the real right to real estate held or held the real right to real estate internally and the another person, and stipulates that the registration thereof shall be made in the name of the other person (Article 2 Subparag. 1), and declares that a title trust agreement and any change in the real right pursuant thereto are null and void.

(1) Article 746 of the Civil Act prohibits illegal consideration under Article 746 of the same Act, and whether the title truster’s filing of a claim for cancellation of the registration against the title trustee may affect the conclusion that the title truster made a title trust in order to avoid restrictions under the Farmland Act, in cases where the registration was made under the name of the title trustee pursuant to an invalid title trust agreement in violation of the Real Estate Real Name Act.

2. In full view of the language, content, structure, and legislative purpose of the provision of the Real Estate Real Name Act as to whether a title trust registration completed pursuant to an invalid title trust agreement in violation of the Real Estate Real Name Act constitutes illegal consideration, it cannot be readily concluded that such registration constitutes illegal consideration, as a matter of course, solely on the ground that the registration was made under the name of

(See Supreme Court Decision 2003Da41722 Decided November 27, 2003, etc.). The same applies to the case where a title trust was made with intent to avoid restrictions under the Farmland Act, as in the instant case.

Specific reasons are as follows. A.

Under the premise that ownership of real estate is attributed to the actual right holder, the Real Estate Real Name Act regulates title trust agreements and changes in real rights according thereto.

First, the Real Estate Real Name Act Article 4.