The term “registration of the trust of land rights” (abridged as “registration of trust” below) referred to in this Regulation shall mean the registration of change of land rights undertaken according to the Trust Act.

The registration of trust shall be jointly applied for by the trustor and the trustee if the trust is created by a contract.

The registration of trust shall be jointly applied, after the inheritors have carried out the registration of inheritance, by the trustor and the trustee if the trust is created by a testament. The registration of trust shall be jointly applied, after the completion of the registration of the executor of the testament and inheritance, by the executor of the testament and the trustee if the executor of the testament is specifically appointed by the testament.
The conditions of the preceding paragraph, the administrator of inheritance shall, still, apply jointly with the trustee, for the registration of trust, after the completion of the registration of the administrator of inheritance, even if it is not clear whether there is any inheritor.

When applying for registration upon the acquisition of land rights according to Paragraph 2 of Article 9 of the Trust Act, the trustee shall submit the trust relations proof document. When applying for the registration referred, the fact that the property acquired is under trust and the data concerning the trustor’s status shall be clearly noted in the proper column of the application form. The registration agency shall undertake the registration according to Articles 130 and 132.

When the trusting relation vanishes after the trusted property has been subject to a registration of the trust according to Article 125, the obligee shall apply, jointly with the trustee, for the registration of deletion of the trust or the registration of identification of the trust according to the provision of Article 65 of the Trust Act.
When applying for the registration referred to in the preceding paragraph, the obligee may solely apply by submitting documents of evidence sufficient to prove the vanishing of the relation of the trust, when the trustee is unable to apply jointly. If s/he fails to submit the certificate of ownership of land or improvements held by the trustee, s/he may submit a recognizance or note clearly in the application form explaining why s/he failed to submit. The original certificate of rights shall be nullified with a public announcement after registration has been accepted.

The new trustee shall apply jointly with the trustor for the registration of change whenever there is a change of trustee.
In the event that the trustor is unable to or not required to apply for the aforementioned registration together with the new trustee, the new trustee may apply alone with documents that provide sufficient evidence. The stipulation set forth in Paragraph 2 of the preceding article applies when no certificate of rights is presented

The registration of trust shall be entered into the section of ownership or of other rights of the register, besides entering the data of trusted property and the status of trustor, and the wording: “refer to the special trust roll for the detailed contents of trust”, shall be put into the column of other registration matters.
The registration agency shall transfer the matters entered in the column of other registration matters referred to in the preceding paragraph when the registration of change of trustee and of the acquisition of trust is undertaken in the areas where the cadastral data is processed by computer.

The certificate of ownership of land or improvements, or the certificate of other rights over land shall be noted with the data of trusted property and the wording: “refer to the special trust roll for the detailed contents of trust”, when the certificate is issued after the completion of the registration of trust.

The registration agency shall photocopy and compile the trust contract or testament in the special trust roll after the registration of trust of any land rights for reading or photocopy purpose. The content of information, qualification of applicants and fees for reading or photocopy shall apply mutatis mutandis to Article 24-1 of this Regulation and Article 79-2 of the Land Act.
The special trust roll shall be retained for 15 years from the date of the registration of the cancellation of trust.

If the change of contents of trust does not involve the registration of change in land rights, the trustor shall apply, jointly with the trustee, to the registration agency for the registration of change of the contents of trust by submission of the application form and the documents indicating the changed contents of the trust.
The registration agency shall, after receiving the application form referred to in the preceding paragraph, enter the changed contents and the date for the change into the other matters column of the land register according to the documents indicating the changed contents of trust, and file the application form together with the special trust roll.

When an applicant applies for trust registration according to the Real Estate Securitization Act or the Financial Assets Securitization Act, the validity documents approved or declared by the competent authority and the documents proving the trust relationship shall be enclosed in the case of asset trust registration; when the registration agency handles the registration, the trustor’s name or appellations shall be indicated in the “others” column in the register.
In the case of investment trust, the validity documents approved or declared by the competent authority shall be enclosed, while the documents proving the trust relationship are not required; when the registration agency handles the registration, the statement that the asset is a trust asset under the Real Estate Investment Trust shall be provided in the “others” column in the register.
After completing trust registration pursuant to the stipulation in the preceding paragraphs, Articles 128 and 133 no longer apply when the trust relationship is terminated or when modifications are made