Ok, so after much
research I think I have finally found the answer. If you try to do it yourself and your boat is in a Trust... NO GO!
Mexico apparently does not recognize
family trusts so you can't register for a TIP with your boat in one.
However, as with many things in Mexico, there is a workaround.
You need to hire an agent to do the paperwork. It seems they conveniently leave out the Trust part on the application (which you never see) and VOILA!
You have a TIP.
At least I will see if that works soon.
More to follow...