I did back in my first AD&D game (which I inherited), because I wanted the players to have some location they're attacked to. One player chose not to do so, but that was his decisions. When I ran the Greyhawk Wars, The first to fall was the wizards tower, and he was forced to teleport away (after setting the tower to explode. The fighter/rogue's fortress was next in line, and while he and the wizard tried to hold back the horde with his soldiers, it too fell (they escaped with a few NPCs through a secret tunnel. It was only the cleric's temple that remained, which the party used to rally at in order to fight back. It really made the high level game fun, as the loss of so much was a blow not only to the power of each character (most lost loot stashed in the places taken), but the morale of each player.
In 5E, I did have a player who first earned the title of Knight Commander, and eventually control of a fortress on the borderlands (this was a plot device to get the party in a certain position). He later married a minor noble, earning the title of baronet. After a major adventure for the kingdom, he was granted the title of Baron, and the land he oversaw was now a full barony. The slow build up made things interesting, because the players each had plans to use the fortress owned by the single player.