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The example is pseudo-code and assumes a future with smart-property domain registrars. A better example might have been a smart contract trust which is 100% doable today.

There are other examples under the Samples menu at etherscripter.com. Also see ethereum.org.

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"The example is pseudo-code and assumes a future with smart-property domain registrars."

Exactly. That's the problem. There has to be a much larger infrastructure which handles ownership of real-world objects for this to be useful. There are already smart-property domain registrars. MERS [1] and DTC [2] already do that, for mortgages and stocks respectively. But they don't need Etherium.

[1] https://www.mersinc.org/ [2] http://www.dtcc.com/about/businesses-and-subsidiaries/dtc.as...

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