Here\'s a theoretical/pedantic question: imagine properties where each one could be owned by multiple others. Furthermore, from one iteration of ownership to the next, two n
You have a many-to-many relationship between your owners and your territories (properties). I'm not sure what language you're working in, but this sort of thing can be easily represented and tracked in a relational database. (You'd probably want a table for each entity, and the relationship would probably require a third "junction" table. If it's necessary to be able to query "back in time", this could have some sort of "time index" column as well.)
If you are working in an object-oriented language, you might create two classes, Territory and Owner, where the Territory class has a property/member/field which is a collection of references/pointers to Owners and the Owner class has a similar collection of Territories. (One of these two collections may need to contain "weak" references depending on the language.)
In this case, some difficulty may arise if you want to be able to go back and look at the network state at some particular point earlier in time. (If this is what you need, say so and I (or someone else) can post a solution that works for that.)
I'm not sure what level of simplicity you are striving for, but in neither of these cases is updating the ownership relationships really that "hard". Maybe if you posted some code it might be easier to give you more concrete advice.