The Fideicomiso means that a bank acts on your behalf, while you are stated as the first beneficiary and will have the full ownership and all legal rights on the property, house or apartment you bought. You pay a fee to draw the contract as well as a yearly fee. Both are determined by the value of the property you are buying. The Fideicomiso is valid for 50 years and is renewable. You actually have 10 years after this 50 years period to renew the agreement.