What happens if the main beneficiary (the owner of the property) of the fideicomiso passes away?

The substitute beneficiary becomes automatically the main beneficiary. This will require that the new main beneficiary appoint a new substitute beneficiary. The process has to be done through a notary, who will process and register the new deed in the Public Registry. There is an administrative fee charged by both, the notary and the fideicomiso bank, to process the change of beneficiaries.