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Well, here's the Sorcerer to help out his Apprentice
The reason the "Land Partnership" changes the game entirely is that it enables that bundle of rights and obligations we think of as "property" to be bundled and shared around in entirely new ways.
ie an entirely new form of tenure of indefinite duration - an "evergreen lease" - whereby for as long as you rent the Land and the Capital invested in it you pay an agreed "Capital Rental".
It also means that "Real Property" need never be bought and sold again, although "Occupiers" and "Managers" of it, and Investors in it, may change over time.
The key is that the "freehold" is put into "Trust" with a "Custodian" Member of the LLP or LLC - exactly in the same way that massive firms like State Street and Northern Trust act as "custodians" of shares while the "beneficial interest" is traded increasingly furiously on the casino's we call Stock Exchanges.
Having done this it is merely a question of who lives in the property, who invests in it, who manages it and what the relationships are between them.
French Law is interesting in respect of inheritance, and it would be interesting to see how this structure would intersect with it, with the property itself in trust.
This wrapper offers a neat IHT mechanism in that it is possible to transfer "Equity Shares" to one's kids and then to pay a "Capital Rental" to them (if you don't the Revenue will tax you on the benefit) and continue to live there.
But hey, that's no problem if you actually pay them not in cash but in more "Equity Shares".
The problem comes when you want to move. You have to convince the new "Occupier" to take on this radical new mechanism.
Well, when you tell him that all he needs to pay is an agreed "Capital Rental" - that if he pays more he starts buying "Equity Shares" in the property and that the outcome is much cheaper in cash terms - BECAUSE HE DOESN'T HAVE TO REPAY LOAN PRINCIPAL - then who knows, you might even get people interested.
If not, just rent it out conventionally and rent somewhere else. The model interfaces perfectly well with the existing mechanisms.
"The future is already here -- it's just not very evenly distributed"
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