Nah, it just becomes one of those impediments to sale that you wave aside during purchase and earns lawyers a few bucks.

There are a few of these in England, Chancel Repair Liability is the most famous. In theory you could be forced to pay for repairs to a nearby church you never visit and have no interest in, on account of land you own was historically liable for such repairs and this was never cancelled. A real person, this century, had to pay about £350 000 as a result, so that's not inconsequential (although the circumstances were pretty unusual). But that's scary enough that a real estate lawyer might argue they're not sure the property you want to buy is unaffected, you should take out Insurance against the liability, conveniently sold by another lawyer.

The government tried to "fix" this, but the problem with lawyers is, obviously no fix will be good enough to prevent lawyers saying what if the fix didn't work, so chances are you get persuaded to buy insurance even though the liability probably no longer exists because hey, if I'm wrong I'm not going to pay £350 000 so...

Fifty years from now, if the fact there's "an NFT on the blockchain" for a property you want to buy is even something anybody knows about, your lawyer will know, and they'll tell you that another lawyer offers $1000 insurance, buy that and if "the blockchain" ever tries to sue you and take the property back they'll have your back...

You just gotta etch the block into the foundation. Then it's physically part of the house. Maybe make a radioactive label and bury it on the property. That way people now the property they're standing is on actual property.

> Oh fun, which startups are those?

Some are covered in this article: https://archive.is/k3w7F

> ...if someone loses access to their wallet they presumably lose the ability to ever sell their house.

It is software at the end of the day and seems like there is already a solution for it: https://en.bitcoin.it/wiki/Multi-signature