1. The defendants' appeal is dismissed.

2. The costs of appeal shall be borne by the Defendants, and the costs of appeal arising from the intervention in the appeal.

1. Basic facts

A. On November 2, 2007, the Plaintiff entered into a sales contract with D for the purpose of collecting and selling aggregate, and on November 8, 2007, the Plaintiff purchased KRW 450,000 from Defendant C for purchase of KRW 636,60,000,00 for land E in Yong-Nam-gun, Jeonnam-gun (hereinafter “land before division”).

B. On March 20, 2008, the Plaintiff agreed to revise the part of the land sales contract with Defendant C prior to the said division as follows (hereinafter “instant agreement”). Around that time, the Plaintiff paid KRW 250,000,000 to Defendant C an intermediate payment.

The payment of KRW 150,00,000 for the intermediate payment of KRW 150,000 for the down payment and the intermediate payment of KRW 150,000 shall not be registered for the transfer of ownership for the next two years in order to minimize the transfer income tax to the amount of each reported transaction price at the time of transfer of ownership as KRW 350,000,000 for the intermediate payment of KRW 150,000 for the intermediate payment of KRW 150,000 for the intermediate payment of KRW 150,000 for the intermediate payment of KRW 150,000 for the intermediate payment of the down payment and the intermediate payment of KRW 50,00 for the remainder payment of KRW 50,00 for each of the real estate in this case. When the plaintiff paid the intermediate payment of April 20, 2008,

C. Around October 6, 2008, the land before the said subdivision was divided into the land indicated in the attached Tables 1 and 2, and 37,914 square meters of land and the land indicated in the attached Tables 1 and 37,914 square meters of land before the said subdivision. Around March 19, 2010, the land before the said subdivision was divided into the land listed in paragraph (3) of the attached Table and the land listed in the attached Tables 3 and 482 square meters of listed forest (the ownership transfer registration was completed on November 17, 2010, whose land category was changed to a road thereafter).

[2] Each of the instant real estate is deemed as “each of the instant real estate” in addition to the instant land E, 572,138 square meters and each of the land indicated in the separate sheet

D. On January 6, 2011, Defendant C established the right to collateral security with respect to each of the instant real property to the Young-gun Fisheries Cooperatives, the maximum debt amount of which is 234,000,000 won, and the right to collateral security with respect to each of the instant real property by Defendant B, which was loaned by the said Association as collateral, KRW 50,000,000, out of the total debt amount of which is 180,000,000.