Regulations of the Land Registration Article 117-1

In the case that a deed has provided that the ownership of the collateral shall be transferred to the mortgagee if the due mortgage right is not paid off, the registration agency, this shall be clearly stated accordingly on the registration form. The same shall apply to the application for the registration of change of right arising from the separately agreed to, or change agreement to apply for, the registration of change of right.A mortgagee applying for the registration for transfer of ownership of the collateral according to the abovementioned agreement shall present the required documents as stipulated by Articles 34 and 40 and the proof of the expiration of the liability of the guaranteed obligatory right, and file the application jointly with the pledger.The applicant of the abovementioned application of registration shall clearly state the content in the proper column on the registration form according to the requirement provided in Paragraph 2, Article 873-1 of the Civil Code, and sign the registration form.