Jeonse right (jeonsegwon)
Korean: 전세권 · jeonsegwon
A property right under the Civil Act to use someone else’s real estate in return for a jeonse deposit, with priority repayment.
Under Article 303(1) of the Civil Act, the holder of a jeonse right pays the jeonse money, occupies and uses another person’s real estate according to its purpose, and has the right to be repaid the jeonse money before later-ranked right holders and other creditors from the whole property.
Legal basis
Explanations follow the current Korean statutes on the National Law Information Center (law.go.kr). Laws change, so check the original text before relying on it. This is general information, not legal advice. All terms
Korean version: 한국어 용어사전