Chonsegwon, which means a right of registered lease, consists in the right to occupy and use real estate for its normal purpose of another person with the deposit money. This right not being able to exist without the deposit money, these two are insep...
Chonsegwon, which means a right of registered lease, consists in the right to occupy and use real estate for its normal purpose of another person with the deposit money. This right not being able to exist without the deposit money, these two are inseparable one from the other. As Chonsegwon is not only of character of usufructuary real right but of real right granted by way of security, this right couldn`t be assigned to another person separately from the claim of the deposit money. For the same reason, claim of the deposit money couldn`t be transferred without the Chonsegwon. According to one theory, however, we don`t have to deny the transferability of the claim of the deposit money separately from Chonsegwon, as the effect of Chonsegwon is admitted for nothing else but in order to secure the repayment of the deposit money, and we could admit this legal effect of the right to the extent of this purpose. This leads to the conclusion that Chonsegwon could exist without deposit money, this thinking is incompatible with the legal character of Chonsegwon as real right granted by way of security. It is therefore be undoubtful that, while Chonsegwon exists, the claim of the deposit money can`t be transferred definitely to another person separately from Chonsegwon, leaving this right unchanged.