Square Enix certainly wouldn't sell the property to fans...
We wouldn't actually need the entire property rights; a limited lisence would do. Something along the lines of "limited non-competing internet derivative rights." IP isn't one thing, its a collection of several smaller rights that is ever growing (if you recall the Writer's Strike of not that long ago, that was the result of new rights being developed without creators being included on the potential profits).
Alternately, HOSTILE TAKEOVER! Buy the stock right out from under them. Now if only Bill Gates was a rabid fan...
So a top Squeenix exec has come right out and said that there will be no further Chrono games in the foreseeable future because sales of the DS version of CT haven't been (in their opinion) high enough. They're effectively saying that the IP associated with the Chrono series is of no value to them.
To be fair, he was talking out of his ass. At least he wiped first.
He complained that a re-release of a game that has been ignored for around 10 years and received minimal advertising did "poorly" in sales. Unless they "developed" CTDS in an f'ed up manner, their profit margins on the venture are through the roof (there should have been almost no development costs and low marketing costs). "Poor sales" is code for "man, I am totally wasted right now."