('praIv@t'@Un@SIp) noun. The fact that something is held by a private individual or group rather than the state or a public authority. 'The car is registered to a private owner. A person or entity that owns something is called its "owner". If someone owns your car, they can use it as they see fit and have the right to sell it or otherwise dispose of it. They are the private owner of the car. Your house is another example of private property. It is owned by a private citizen or corporation. This person or organization can do with their property what they want provided they don't violate other people's rights. For example, if your house was on fire and could only be put out by a fire company then it wouldn't be permissible for you to try and put it out yourself because this would be violating others' rights (especially any children who may be in the house at the time). Private property owners can do whatever they want with their property including selling it. If someone else wants to buy it they can make an offer which the original owner can accept or reject. In conclusion, private property means that someone has the right to own something without anyone else having a say in the matter.