Averil, there are still holes in your theory.
First hole of course is the burial record for John Looney (Yack) who died in 1835 age 87. We understand that you do not accept this record for what it is.
The second hole in your theory are the facts which do not line up with your theory:
That the Gob ny Scoote land transfer mentioned in John and Margaret (Kelvie) Looney's 14 July 1769 Will only gave 1/2 of Gob ny Scoote to Daniel. This 1/2 being given to Daniel and his wife in a document referred to as a "Settle & Estate" dated 25 March 1769.
The other 1/2 of Gob ny Scoote was to go from his parents to John at the death of the last parent. (see 14 Jul 1769 Will of John and Margaret (Kelvie) Looney)
At the death of the last parent, Daniel was to receive Crow Creen "if" he gives up his 1/2 of Gob ny Scoote to his brother John. (see 14 Jul 1769 Will of John and Margaret (Kelvie) Looney)
The father, John Looney, obviously died between 14 Jul 1769 and 10 Feb 1770 when Margaret, his widow, married WM Creetch. (undated Court of Correction at Lazayre below actual 14 Jul 1769 Will)
Margaret Kelvie-Looney-Creetch did NOT make another will in 1798 as you stated. The 7 Jan 1798 document is titled "Deed of Settlement" and it is between Margaret Creetch and her youngest son, Ewan and his wife. In this document Margaret promises to give Ewan and his wife all that remains of her "Goods and Effects" if Ewan and his wife will take good care of her. The provision is, if Ewan and his wife do not take good care of her, then she is at liberty to "go where she please", implying that she is living with them on their property, and to give her goods and effects to who she thinks best deserves them. Margaret Creetch had apparently died before 17 Oct 1798 when this Deed of Settlement was presented to the chapter Court holden at Lezayre October 18th 1798. There is no mention of a transfer of land anywhere within this document nor when presented to the court.
Per the terms of John and Margaret's 14 Jul 1769 Will, John Looney was to receive his parents 1/2 of Gob ny Scoote. John was also to be given Daniel's 1/2 of Gob ny Scoote, should Crow Creen and house be transfered to Daniel. These transfers would have taken place after the death of their mother who was deceased by 17 Oct 1798.
After the death of Margaret (~17 Oct 1798), Daniel was to receive the Crow Creen property conditional upon his transfer of his 1/2 of Gob ny Scoote to his brother John. (14 Jul 1769 Will of his parents)
It is obvious that Daniel did come into possession of Crow Creen because on 26 Dec 1821 Daniel sold the same to his son Robert. (North Side Sale 1823 #42 Maughold)
No doubt, John Looney (Yack) b. 1748 would have been in possession of the whole Gob ny Scoote property soon after the death of his mother (1798).
Daniel was only in possession of 1/2 of Gob ny Scoote at any point in time and in keeping with his parents Will he was obligated to transfer this 1/2 ownership to his brother John otherwise he would not receive the Crow Creen property which Daniel later sold to his son Robert.
So based on what we know, John Looney (Yack) b. 1748, d. 1835 is the only John Looney who had possession of the land known as Gob ny Scoote and he is the only one who could sale or transfer title to that property to his son, John Looney Jr. There is no historical record found that would provide for the transfer of 100% of Gob ny Scoote from Daniel to his son John Looney b. 1770.