Discussing what to do with land...
In the US, we have a concept called 'local political entities', aka states, counties, and towns. Each of these entities has a charter that defines a geographic region which is theirs, by 'eminent domain', to do with as they please. In exchange for this, they agree to pay taxes for the privilege to the higher-ranking political divisions which grant their charters.
One of the things that these subdivisions do is decide what can and can't be done with the land in their domains. In grand tradition, it is a democratic process of electing the mayor and the city council, which determine how to enforce the rules that the community has established as even "good taste".
(Yes, my friends, I'm talking about 'law' here. Definition: A set of guidelines and rules which a society decides upon for the good of the society.)
If LL grants "land rights", then LL also needs to comprehend the issue of "land value". The land owned by my partner and I, we purchased in a sim that had a fairly huge swath of "land for the landless". This was taken over by a lot of people literally overnight... and within 2 days, we had 'land speculator' signs in 2 plots near ours.
Needless to say, I wasn't exactly pleased -- but there's literally nothing that we can do. I don't want to have to look at "for sale" signs whenever I go outside -- I'm more likely to teleport whereever I go because I just do not like having to see something so ugly.
Part of this is that the land search system doesn't have a lot of the things that a RL real-estate office would have access to. Part of this is that there's no real incentive to leave good buildings on a plot of land (if primitives were more permanent, or cost money to put in place, there would be more incentive to leave them -- like a house, on land RL). There's no particular 'draw' to a given plot of land -- and no incentive to build on it, only to have it razed with minimal thought and effort. The premade house-in-a-box market is... well, interesting, but it gluts the market with pre-made house designs that have no materials cost. Sandbox? Perfect for creating blueprints. Want it persistent? Pay for its construction.
Now, these are just thoughts, but since I'm blowing smoke anyway, how about sim-resident councils that have enforcement powers over standards of "good taste" which are decided upon by the members of their communities? Not much could be done about the next sim over -- though maybe being neighborly might help cooperativeness. (Since there aren't any 'natural resources' to contend with, other than sim CPU usage, there's no real draw/requirement to needing to cooperate so heavily, other than the social aspect.)
Note, however, what I'm NOT doing. I'm not saying that land owners can't sell their land, or profit from it. I'm saying that they can do it in ways that are better-suited to the communities that they're part of. I'm not saying that huge developers can't come in and create Wal-Marts. I'd just like to have the communities/sims/neighbors get a say in what they have to be exposed to.
and have the power to enforce it if it's not appropriate to the community standards.