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Well i think Shark explained it pretty well. Just to add though, you could look to buy an apartment, because you would not own the land that the apartment is on you will have no problem buying the "space". Or if you want to buy a house like shark said, you can own the house and lease the land with an option to renew generally for two 30 year periods which will give you a total of 90 years...
Alternatively, speak to a good lawyer (thai or in falang in thailand) as they might be able to explain the legalities of things better.
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