Socialism's fundamental principles are centered on a critique of this concept, stating, among other things, that the cost of defending property is higher than the returns from private property ownership, and that even when property rights encourage the property-holder to develop his property, generate wealth, etc., he will only do so for his own benefit, which may not coincide with the benefit of other people or society at large.
Libertarian socialism generally accepts property rights, but with a short abandonment time period. In other words, a person must make (more or less) continuous use of the item or else he loses ownership rights. This is usually referred to as "possession property" or "usufruct." Thus, in this usufruct system, absentee ownership is illegitimate, and workers own the machines they work with.
Communism argues that only collective ownership of the means of production through a polity (though not necessarily a state) will assure the minimization of unequal or unjust outcomes and the maximization of benefits, and that therefore private property (which in communist theory is limited to capital) should be abolished.
Both communism and some kinds of socialism have also upheld the notion that private property is inherently illegitimate. This argument is centered mainly on the idea that the creation of private property will always benefit one class over another, giving way to domination through the use of this private property. Communists are naturally not opposed to personal property which is "Hard-won, self-acquired, self-earned" (Communist Manifesto), by members of the proletariat

Various scholarly communities (e.g., law, economics, anthropology, sociology) may treat the concept more systematically, but definitions vary within and between fields. Scholars in the social sciences frequently conceive of property as a bundle of rights. They stress that property is not a relationship between people and things, but a relationship between people with regard to things.
Public property is any property that is controlled by a state or by a whole community. Private property is any property that is not public property. Private property may be under the control of a single individual or by a group of individuals collectively.[5] Some philosophers like Karl Marx use it to describe a social relationship between those who sell their labor power and those who buy

Modern property rights conceive of ownership and possession as belonging to legal individuals, even if the legal individual is not a real person. Corporations, for example, have legal rights similar to American citizens, including many of their constitutional rights. Therefore, the corporation is a juristic person or artificial legal entity, which some refer to as "corporate personhood".
Property rights are protected in the current laws of states usually found in the form of a Constitution or a Bill of Rights. The fifth and the fourteenth amendments to the United States constitution, for example, provide explicitly for the protection of private property:
The Fifth Amendment states:

Modern property rights conceive of ownership and possession as belonging to legal individuals, even if the legal individual is not a real person. Corporations, for example, have legal rights similar to American citizens, including many of their constitutional rights. Therefore, the corporation is a juristic person or artificial legal entity, which some refer to as "corporate personhood".
Property rights are protected in the current laws of states usually found in the form of a Constitution or a Bill of Rights. The fifth and the fourteenth amendments to the United States constitution, for example, provide explicitly for the protection of private property:
The Fifth Amendment states:

Various scholarly communities (e.g., law, economics, anthropology, sociology) may treat the concept more systematically, but definitions vary within and between fields. Scholars in the social sciences frequently conceive of property as a bundle of rights. They stress that property is not a relationship between people and things, but a relationship between people with regard to things.
Public property is any property that is controlled by a state or by a whole community. Private property is any property that is not public property. Private property may be under the control of a single individual or by a group of individuals collectively.[5] Some philosophers like Karl Marx use it to describe a social relationship between those who sell their labor power and those who buy

Property is any physical or virtual entity that is owned by an individual or jointly by a group of individuals. An owner of property has the right to consume, sell, rent, mortgage, transfer and exchange his or her property.[1][2][3] Important widely-recognized types of property include real property (land), personal property (other physical possessions), and intellectual property (rights over artistic creations, inventions, etc.), although the latter is not always as widely recognized or enforced.[4] A title, or a right of ownership, is associated with property that establishes the relation between the goods/services and other individuals or groups, assuring the owner the right to dispense with the property in a manner he or she sees fit. Some philosophers assert that property rights arise from social convention. Others find origins for them in morality or natural law (e.g. Saint

Sec. 2. The lands of the Cherokee Nation shall remain common property; but the improvements made thereon, and in the possession of the citizens respectively who made, or may rightfully be in possession of them: Provided, that the citizens of the Nation possessing exclusive and indefeasible right to their improvements, as expressed in this article, shall possess no right or power to dispose of their improvements, in any manner whatever, to the United States, individual States, or to individual citizens thereof; and that, whenever any citizen shall remove with his effects out of the limits of this Nation, and become a citizen of any other government, all his rights and privileges as a citizen of this Nation shall cease: Provided, nevertheless, That the National Council shall have power to re-admit, by law, to all the rights of citizenship, any such person or persons who may, at any time, desire to return to the Nation, on memorializing the National Council for such readmission.
Communal property systems describe ownership as belonging to the entire social and political unit, while corporate systems describe ownership as being attached to an identifiable group with an identifiable responsible individual. The Roman property law was based on such a corporate system.
Different societies may have different theories of property for differing types of ownership. Pauline Peters argued that property systems are not isolable from the social fabric, and notions of property may not be stated as such, but instead may be framed in negative terms: for example the taboo system among Polynesian peoples