Korean Law in English
Laws › Civil Act › Sub-Section 2 Effect of Sale

Civil Act — Article 576 (Exercise of right of mortgage or chonsegwon and seller's liability for warranty)

민법 제576조

(1) If the buyer has been unable to acquire or has lost the ownership of the immovable which forms the subject of a sale by reason of the exercise of a right of mortgage or chonsegwon existing over such an immovable, the buyer may rescind the contract.

(2) In the cases of the preceding paragraph, if the buyer has preserved the ownership at his or her own expense, he may demand reimbursement of such expenses from the seller.

(3) Where mentioned in the preceding two paragraphs the buyer may recover damages he has sustained from the seller.

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