The Supreme Court's National Court Administration and Sogang University's Institute of Legal Studies will hold a joint academic conference on "Designing a Compensation System for Improper Property Registrations" at 3 p.m. on the 10th of this month in the main auditorium on the first floor of the Supreme Court, they announced Tuesday.
The conference was arranged to establish an institutional foundation for remedying property rights damage caused by improper registrations, and to explore policy and legislative tasks for enhancing the reliability and safety of the real estate registration system.
An improper registration refers to a registration that does not match the actual rights relationship, meaning a fake or invalid property registration. The National Court Administration explained that "under current law, when a registration that does not correspond to the substantive relationship arises due to document forgery or other causes, the counterparty who trusted the registry and conducted a transaction faces the problem of losing rights such as ownership."
Kim Ki-hwan, a professor at the University of Seoul School of Law, will present on a "Compensation Model for Damage from Improper Registrations." Kim plans to compare and analyze approaches such as a direct state compensation model, a public fund model, and an insurance-linked model, and to propose the alternative best suited to Korea's circumstances. Lee Eun-sang, a professor at Seoul National University School of Law, will present on "Measures for Legal Framework Improvement for a Compensation System for Damage from Improper Registrations."
Lim Sung-hoon, a professor at Sogang University School of Law, and Yeon Kwang-seok, a senior research officer of the National Assembly's Foreign Affairs and Unification Committee, will discuss legislative measures.
