Owning property in Thailand

[morse]

This topic has, I am sure , been covered over the years and I know enough just to be dangerous and am looking for guidance on Thai law in that regards. I believe foreigners cannot own land outright, but can do so through establishing a Thai corporation or some such entity which owns the land and then a foreigner can own 49% of the corporation and Thais the remaining 51%. Is that correct?
Can my bf buy land and then can I (we) lease the land from him and we build with each owning 50% of the house? Can we buy an existing house with the same arrangement; he would buy the land or lot the house sits on and then we would buy the house jointly? My goal is for him to own the property after my demise (there is a considerable age difference) but for me to have some protection if things don't work out as well as we hope they will during my remaining years. The money I would put on the table is money I would not like to lose during my lifetime, but it is also money that will not change my financial picture if all is lost.
Have those of you who have used the Thai legal system and Thai lawyers found it to be reliable and unbiased towards foreigners? Unfortunately, I have an untested view of it similar to my to my jaundiced view the American legal community-user beware!

[mahjongguy]

You can set up a Thai company easily and use it to buy property. Many many foreigners do so. It is not legal but you might very well get away with it. I would not choose that solution. The political winds are changing. Ask the visa runners.

You can buy the property in his name and take a 30-year lease on it. This is the proper way to go. You will be the "house master" under Thai law and you determine who gets to live in the house. There is one flaw: it cannot be undone. It gives you a guaranteed place to live but you cannot sell the house, cannot sell the lease.

For this and any other legal solution you need a competent lawyer. The necessary papers for a lease (the lease contract, a "loan" document, Thai Wills for each of you) can cost up to 100,000 baht. You will also have to pay the Land Office a leasing fee that is roughly 1% of the property value.

[Up2U]

You can also legally own a condo in your name and will it to him upon your death. Additionally, you could buy him some land for his future use.

[thaiguest]

Problem with Lease option is that the Amart has fashioned Thai law to favour the landlord and to disregard the interests of the tenant when push comes to shove.
Problem with the Will option is you'll be worth more dead than alive.

[mahjongguy]

"Problem with Lease option is that the Amart has fashioned Thai law to favour the landlord and to disregard the interests of the tenant when push comes to shove."

For renting, what you say is true. For a formal 30-year lease, the legal protections are more than adequate.

BUT...

"Problem with the Will option is you'll be worth more dead than alive."

Since the lease expires upon death, it has the same worrisome aspect as a Will.