Buying Rocky Point property as a foreigner

What's a fideicomiso?

Mexican law restricts direct foreign ownership of land within ~50km of the coast (the "restricted zone") — which includes all of Rocky Point. Instead, a Mexican bank holds the title in a trust (fideicomiso) for your benefit. You have full rights to use, rent, sell, renovate, and pass the property to heirs — the bank is just the title-holder of record, not an owner with any real interest.

• Trusts run in renewable 50-year terms.
• You pay a one-time setup fee plus a modest annual fee to the trustee bank.
• Alternative structure: a Mexican corporation can hold property directly, but that's typically only worth it for commercial/rental-heavy operations, not a single vacation home.

How closing actually works

1. Offer accepted → earnest money typically held by a neutral notario público, not the agent.
2. A notario público (a government-appointed attorney, not just a document-signer) verifies title, liens, and property tax status, and drafts the trust/deed.
3. Bank trustee is selected and the fideicomiso application is submitted (can take 4-8 weeks).
4. Closing: taxes and fees are paid, the deed is signed before the notario, and it's registered with the Public Registry.
5. Most Rocky Point deals are cash — financing (below) is the exception, not the rule.