Regulations of the Land Registration Article 117-2

A pawnee acting on behalf of the pawnor and applies for the registration for creation of land right or transfer land right to the pawnor according to Paragraph 1, Article 906-1 of the Civil Code shall present the required documents as stipulated by Articles 34 and 40 and the pledge contract, and apply for the registration jointly with the obligor.A pawnee filing for the application for the abovementioned registration shall clearly state on the proper column that the pawnor has been notified and has signed the registration form, and concurrently has filed the application of registration for mortgage right pertaining to the acquisition of the land from the pawnor.Upon the completion of the registration mentioned in the above two paragraphs, the registration agency shall notify the pawnor regarding the result of the registration.