People can trade cash for property, so the "debt that society owes to the holder" is transferrable.
As such, why can't people transfer cash to their descendants directly? What's the point of trading it for property, which can then be traded back to cash anyway?
I have come to the realization that a perfectly free market is impossible as human nature and psychology dictates its self destruction. What is needed is a free market without the self destructive behavior. The five biggest candidates: export/import surpluses, excessive cash hoarding, rent seeking and cash inheritance [0]. The solution to these problems can involve a UBI but the UBI is never meant to achieve poverty reduction or provide bargaining power or whatever specific goal UBI proponents have in mind. It is merely a fair distribution mechanism.
Think of a speeding ticket whose payment is then used for a UBI. The point isn't that suddenly everyone can afford more things. The point is that a fine is a good punishment for a minor offense but the proceeds should not be used to fund the government lest it starts enforcing the law for the sake of government funding.
You can solve these 5 problems with taxation and fines and then redistribute the proceeds to everyone. The benefit will not come from the UBI, it will come from the fact that we cease self destructive behavior. Without the self destructive behavior we will be richer in real terms without engaging in a single hour of work. In other words, UBI is a good idea but not as a replacement for unemployment benefits.
[0] Cash represents a debt that society owes to the holder of the cash. Such a thing should never be inherited or held onto for long periods of time. If someone were to decide to spend all their money on stocks or gold and let their children inherit these tangibles, they would be acting in an exemplary manner as property should not be touched. As money represents the future property of others (it is not your property yet), it must not pass on.