PRIVATEPROPERTY

Private property

Private property is the ownership of property by non-governmental legal entities. Private property is distinguishable from public property, which is owned by a state entity; and collective property, which is owned by a group of non-governmental entities. Private property is further distinguished from personal property, which refers to property for personal use and consumption.

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private property

Noun

  1. Property to which individuals or corporations have certain exclusive property rights, but do not necessarily possess.
  2. Property to which the state or other public organizations do not have exclusive property rights.


The above text is a snippet from Wiktionary: private property
and as such is available under the Creative Commons Attribution/Share-Alike License.

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