The Meaning of 'Private' in 'Private Property'

"When we think about our towns and our homes we often mistake the meanings of private....New and old, my house and yours, are the handiwork of our neighbors and our predecessors, private and public....Yes, land and private property are the twin bases upon which all our towns and cities are built and rebuilt. The land is the mutually managed resource; private property is the rules for occupation of the land. The land within the town is limited and fixed, but private property is an ever-changing set of rules about how the land is employed....Your land and house or shop or plant or office belongs to you (or your mortgage company), but what private property means depends on its place and time."

Thanks to Connie Chung