The mortgage rule is a legal tool used to characterize property acquired, using both community and separate funds, over a period of time. Harry M. Cross, The Community Property Law in Washington, 61 WASH. L. REV. 13, 39-49 (rev. 1985). The mortgage rule examines whether both parties concerned were obligated to make payments in order to retain ownership of the disputed asset. If there was no such continuing obligation, then the character of the asset is retrospectively determined to be proportionate to the ratio of separate and/or community funds used to acquire the asset. Absent a continuing obligation, the character of the property is retrospectively determined to be proportionate to the ratio of separate and or community funds used to acquire the property It is precisely this mortgage indebtedness that itself constitutes a contribution to effect the final determination of what proportionate share either party should be entitled to. If the other spouse signs the promissory note they become liable to the bank and later third parties for repayment. Even if that party had low income and no assets to secure the loan it is still a contribution. If separate funds are used to make a contribution and are traceable a lien for the down-payment amount could be found but only to that extent of that separate contribution to the down payment. However, In Re Hurd changes this slightly in that the separate character of a cash down payment can be transformed into community property by titling the home in both parties names.

As well as the income limit restriction, anyone who wishes to file for Chapter 7 will actually have to undergo credit counseling before they can actually file their case with the court. Also as part of the new bankruptcy law, a person will need to also undergo additional counseling relating to learning how to control their budget and also the right way of managing the debts that they have. It is only after a person has participated in such counseling then the decision to whether the debts will be cancelled or not is made.

* A foreigner can own a condominiums long as less than 40% of the condos or apartments in the building are owned by foreigners. Many people believe it to be 49% although this regulation was an addition to the existing law and was only meant to be in place for one year and has since expired.

* A company can own property such as land and a house (and hence the foreigner can buy land and a house via their Thai registered company) as long as no one foreigner owns more that 39% of the company (recently amended from 33%) and total foreign ownership of the company does not exceed 49%.Still ambiguous and under review.

* The Thai wife of a foreigner can own property (a recently changed legal status due to gender equality in the new 1997 constitution revision), in her name only. This is fine as long as you don’t have marital problems. (The same, of course, goes for a Thai husband, but the law was changed recently for Thai wives due to the new constitution guaranteeing equal rights.)

* A foreigner can lease land for 30 years, with an option for another 30 years, the first 30 years are guaranteed they are registered with the Land Department, however the second can be contested.

* If you gain BOI approval you may as a company is able to buy up to one rai of land. Although this is meant for very large investors.

At the end of the day if you are seriously looking to invest in Thailand you should consult a good lawyer who will be familiar with the latest property laws.