You don't own your account therefore, it's not yours to sell or give awa.y. When you spend real money on your account, you don't own the plat or any items you bought with that real money, therefore, you cannot complain when OTM bans your account for whatever reason because you never own ... What you buy.
If tomorrow, OTM decides to shut down all the servers and move on to better pastures, everybody will lose all their accounts and all the items and plat they bought with real money, and OTM is under no obligation to compensate for this because... Yup, you guessed it, you never owned any of it to begin with.
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Maybe I am misreading your post but you seem to imply that because this is a virtual service that there is no legal contract to provide the service as advertised and this seems not completely correct.
You are right that in most countries the ingame assets are not treated as property (yet), and its all owned by OTM as IP. However if you pay money for a service and it is not provided you can in most countries sue in civil court. This would apply to virtual services.
Whether you would win or what would be awarded and if it would be worth the cost is another matter (unless in a small claims court or via a class action). In a game access to your in-game assets could be seen as the service offered to the player. Similarly a Telco may be forced to refund fees if a network is down for a long time, you don't own that phone number but you have contracted for its use and it's general availability.
The Terms and Conditions can say what they will about ownership but a T&S is just a contract that hasn't yet been tested in court. Because something is virtual does not mean the provider has no legal obligations. A famous example is Bragg v. Linden Lab. This case was settled but the court ruled on both on certain aspects of virtuality and unenforceable T&S. Virtual game law is in its infancy so who knows what future rulings will say and if there will be an international consensus.
And of course if the company shut down all bets are off though I imagine it would be possible for players to apply to be creditors in a bankruptcy.
Basically I think it's not useful to say "it's all a game so ignore money etc". This is a business and consumer have certain limited rights.
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Landoril 221 Ranger
Denoril 170 Rogue
Hateril. Hat holder
Pageril...well you get the idea
Epona (The little server that could)