Across the peripheries of global South cities, projects to convert rural land for development purposes have brought dramatic impact on rural communities and environments. Many of these initiatives involve aggregating land, mobilizing investments, and resettling populations, with direct implications for villagers’ land rights and livelihoods. In existing studies, rural land conversions have often been examined through frameworks of “land grabbing” and “dispossession”. This paper argues for the need to go beyond these frameworks in conceptualizing the varied pathways and outcomes of rural land takings. It presents a comparative case study of two villages in China, whose land has been redeployed for tourism development. In one village, state-led expropriation led to the loss of land rights and the resettlement of villagers in new housing complexes. In another, villagers held onto land ownership and their property but saw intra-community inequalities amplified as residents were differentially incorporated into the tourism economy. By demonstrating how the nuanced mechanisms of land conversion could facilitate variegated livelihood and distributive outcomes between and within communities, this paper problematizes universalist conceptualizations of dispossession and calls for theorizing both “with” and “beyond” dispossession to account for the multifaceted dynamics of land development in global South contexts.