Object Models as Graphs for a Domain

This is a modeling question that may be open ended, if this is the wrong place I apologize.

If you have a 'complex' domain, and you need to loosely model relationships so objects can be rebuilt if their hierarchy changes or differs between different contexts...how would you model this in a strongly typed language such as c#?

For example, if I need to swap the following: Location has a PolicyIdentifier to Policy as a Location Identifier

But...but both scenarios are valid depending on the context. Inheritance models are ok but what would be another approach that is not as explicit/concrete? If the entire domain was modeled as a graph with entities as nodes, it seems like this would allow for multiple hierarchical configurations.