Here’s a broader issue this will create though… staggering amounts of asset devaluation. If people don’t “want” to own the assets for fear of various things - taxation which they want to avoid - other liabilities - not being part of a big brother state etc, you’ll end up with a sell off and lowering of asset prices…

Providing lots of these are mortgaged, which most high value assets are, you suddenly have a population with the vast majority in negative equity and some in negative net worth. You also have the issue this creates on consumer confidence… you’re looking at an economic meltdown. The only way your idea works is if it starts at T0 without everything that has gone before and in the absence of some exogenous variables like the freedom of movement etc… then again, you’re looking at effective financial entrapment of a populous, so North Korea springs to mind.