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Property is frequently defined as the rights of a person with respect to a thing. The difficulties with this definition have long plagued legal theorists. The same problem of definition occurs in non-Western societies as well. In Russia, for example, the word property (sobstvennost) can have various meanings.
Private property is a legal designation of 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.rivate property is a legal designation of 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.