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)

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