Transferring 51/49 Company Questions

[SNGLIFE]

I am thinking about using a trusted friend's company (which he used to buy his condo over 10 years ago) when he leaves LOS and no longer has any use for it. I am married to a Thai and may be starting a venture soon. The land for the business will be in her name, but I want the building and everything else in the company's name and have the company lease the land so that if there is a problem in the future, I won't lose the assets of the company.

1. What is the legal process to transfer the company? Ballpark time to complete? Ballpark costs?

2. Will I still enjoy the grandfathered benefits of the company, or would it be subject to all the new rules?

3. If I leave the company in my friend's name and just switch all control (i.e. effective ownership) to me, down the road if something happens and the wife and I are no longer together, she cannot lay claim to any of the company assets, correct?

Knowledgeable answers appreciated. Much appreciate if those people who obsessively have to comment on every subject, but really don't have a clue please refrain from posting (I know that is a challenge for some). Thank you in advance.

Edited February 25, 2008 by SNGLIFE