No, generally
You don't own a domain you have a renewable leasehold. If you don't pay to renew --
Quote:
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For 30 days after the expiration date the domain will be available for renewal during a grace period. After the 30 day grace period, the domain will enter a hold period known as the Redemption Period for another 30 days. To recover the domain during the Redemption Period the registry requires a $150 USD fee.
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Do they have a registered or other claim of trademark -- a first use before the domain was lost
If the Chinese buyer tries to sell it back for more than the registration fee -- take that domain into UDRP if you think you can meet the 3 tests to prevail -- this arbitration will cost $2,000+
Using ICANN's UDRP: Analysis
So, if the extortion is $500 it is cheaper to pay for it's return
Do not contact them let them contact you. This way you preserve your UDRP claim ;)
You also might be able to go into civil court and make
an in rem case against the domain name as property -- seize the domain with a default loss you the Defendant --see a licensed lawyer on that one
Not offered as legal advice