Private property

Private property is a legal term specifically referring to the private ownership of land, houses, chattels, and goods. It is characterized by a single owner with absolute dominion over the property. When two or more owners have a claim or if the ownership is temporary or limited, it is not private property. Private property, in the United States of America, is constitutionally protected by state and federal constitution (see: Fifth Amendment)

Definition

Property ownership refers to a set of legal rights, held by a person (or persons), relating to a particular thing, which together are recognized as possession of that thing. Ownership consists of possession and control over the item. Although the exact scope of that set of rights can vary depending upon the nature of the thing owned, and from legal system to legal system, certain of those rights represent the core of what is generally understood as “ownership.” Chief amongst these is the right to exclude others from the use or enjoyment of the thing owned.

“Alienability,” or the right to sell (or refuse to sell) is also a core property right. To the typical person, the right to use and enjoy a thing is the most valuable aspect of property rights, but the scope of this aspect of property rights varies greatly from legal system to legal system, and even over time, with changes within a given system.

Property has traditionally been divided into two main types, private property (absolute ownership) and estate (qualified ownership), also known as personal property and real property.

Private property is absolute ownership of land, houses, chattels, tools, means of production and transportation by an individual.

Real property refers to qualified ownership of real estate, while personal property refers to qualified ownership of all other types of material property. In addition, the law recognizes certain kinds of analogous rights to immaterial assets that are sometimes considered property rights, as well. For example, patents, trademarks, trade secrets, and copyrights are often referred to as “intellectual property,” because they provide the right to exclude others and the right to sell (but, except for trademark, do not necessarily convey an affirmative right for the owner to use).

Ownership

Ownership can be characterized as either absolute or qualified. Absolute ownership is synonymous with sovereignty or dominion. Only upon one's private property can one pursue happiness without consent of another. Everywhere else, one needs permission (license) from the other owner, landlord or custodian, else he commits a trespass.

Common misconceptions

It is often assumed that all land is real estate. But estate refers to qualified ownership, and not absolute ownership. Land is one thing, an estate in land is another. Estate is an interest in property that is less than absolute title. Since absolute ownership is a right, not a privilege, no American government has the delegated power to tax private property. All constitutional delegations of taxing authority are limited to real and personal property (i.e., estate).

Enemies of private property

In this sense, the theory of the Communists may be summed up in the single sentence: Abolition of private property. The Communist Manifesto

Communism and its cousin Socialism, abolish absolute ownership of land, houses, tools, and chattels by private individuals. In its place, qualified ownership of all things by the Collective is instituted. Thus no one can own themselves, their labor, the fruits of that labor, nor even the children they beget.

Collectivists are more akin to pirates, stealing private property from the rightful owners, while ascribing a moral superiority to their thievery. Since moral religions denounce thievery, it's not surprising that Collectivists abhor religion.

Friends of private property

CAPITALISM - An economic system in which the means of production, distribution and exchange are privately owned and operated for private profit. Webster's Dictionary

Concatenating that with private property, we get: Capitalism is an economic system in which individuals absolutely own the means of production, distribution, and exchange.

A farmer who absolutely owns his farm is a capitalist. A farmer who does not is a tenant.

Citation

PRIVATE PROPERTY - As protected from being taken for public uses, is such property as belongs absolutely to an individual, and of which he has the exclusive right of disposition. Property of a specific, fixed and tangible nature, capable of being in possession and transmitted to another, such as houses, lands, and chattels.

- - - Black's Law dictionary, sixth ed., p.1217

OWNERSHIP - ... Ownership of property is either absolute or qualified. The ownership of property is absolute when a single person has the absolute dominion over it... The ownership is qualified when it is shared with one or more persons, when the time of enjoyment is deferred or limited, or when the use is restricted.

- - -Black's Law dictionary, sixth ed., p. 1106