Priority repayment right
Korean: 우선변제권 · useon byeonjegwon
Your right to be repaid the deposit before lower-ranked creditors if the home is auctioned.
A tenant with the opposing-power requirements and a fixed date on the lease contract is repaid the deposit from the auction or public-sale proceeds before lower-ranked creditors (Housing Lease Protection Act, Art. 3-2(2)).
You must hand the home over to the buyer to receive the money (Art. 3-2(3)).
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