Abstract

Article 245 paragraph 1 of the Korean Civil Act stipulates as follows:BR Article 245 (Period for Acquiring Ownership of Immovables by Possession) (1) A Person who has for twenty years peaceably and openly help possession of an immovable with an intention to own it, shall acquire the ownership by making registration thereof.BR And Article 247, Paragraph 1 of the Korean Civil Act stipulates as follows:BR Art 247 (Retroactive Effect of Acquisition of Ownership, Grounds of Interruption) (1) The effect of acquisition of ownership under the preceding two Articles ist retroactive to the commencement of possession.BRBR According to Article 245 Paragraph 1 of the Korean Civil Act, a person who has for twenty years peaceably and openly help possession of an immovable with an intention to own it, shall acquire the ownership by making registration thereof. And according to Article 247 Paragraph 1 of the Korean Civil Act, the effect of acquisition of ownership ist retroactive to the commencement of possession. Article 245 paragraph 1 of the Korean Civil Act is an important basis in determining the legal nature of the acquisitive prescription of real property. The legal nature of the acquisitive prescription of real property is closely related to the retroactive effect of the acquisitive prescription of real property. And there are many controversies in Korea about the legal nature and effect of the acquisitive prescription of real property. In this study, I would like to review the legal nature and effect of the acquisitive prescription of real property and suggest an improvement plan.

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