At that time there was no way to protect the foreigners because there was no check and balance system. With the new laws and the influx of professional real estate agents your transactions are now safe and protected. Please do not purchase property without a professional agent. A trust may be granted and extended in 50-year periods. If you purchase property currently held in a trust deed, a new 50-year period can be established or the existing trust deed may be assigned to the purchaser.
Trusts are renewable at any time by simple application with the bank.
It was never the intent that these properties pass back to the government at the end of the trust period. This is a common misconception and fear of most buyers. In fact at the end of the 50-year period the owner has an additional 10 years to renew the trust with the bank. You need to check with your TREG agent on actual fees to set up the trust as they can vary from bank to bank. This fee pays for the paperwork and government reporting on your behalf.