Yes! It is possible to purchase ejido land. It can be purchased using a prestanombre, or the seller can obtain a private property title through the PROCEDE program before the title is transferred, and the money changes hands.
Ejido land is safely purchased and sold on a daily basis, however it is important to note that the process is exact. The Dominio Pleno and Rights of First Refusal procedures are very detailed. If completed correctly foreigners and non-ejido members can invest with confidence, but beware that even the smallest error or omission could jeopardize the entire investment. It is never recommended that anyone purchase ejido land without qualified legal assistance.