[jason taylor]

A combined dynastic/electitive monarchy where each royal family gets three generations before passing the baton. To gain the crown it is required to charter family possessions (ships, estates, castles, whatever) to the state which in turn uses them or rents them out. They are allowed a privy purse of course, and when their possessions revert back to them on leaving the throne they get interest on any profits made with their possessions as if it had been a commercial loan.