Private property are tangible and intangible things owned by individuals or firms over which their owners have exclusive and absolute legal rights, such as land, buildings, money, copyrights, patents, etc. Private property can be transferred only with its owner's consent, and by due process such as sale or gift. (businessdictionary.com) Now if we take a look at the Civil Code of the Philippines, anyone can basically own or possess private property no matter what your position in the community is. As stated in the Republic Act No. 386 article 419, property is either of public dominion or of private ownership.
In Plato's The Republic, he stated there what he believes a society should be. According to Plato, in order for a community to live in harmony, each individuals should focus and only function on what they were designed to do. Plato's ideal society consists of: the Rulers, Soldiers, and Farmers, Merchants and other people. The Rulers are responsible for the decisions made on how the entire city will be governed. The Soldiers are to defend the city against enemies. The rest of the people in the city are to do their tasks and assigned functions and obey the rules imposed by the leaders. Now Plato declared that the Guardians must not possess private property. (The Great Political Theories p.39) .
For me, this is perhaps a good way on how the leaders of our society should be. Considering the fact that this could lead to a situation where no one will have any other motive but only govern the city and secure the welfare of the citizens. Their intentions will be pure and they will not come to think of the things they could possibly earn from their positions. But Aristotle had a very different view on this. Aristotle did not favor communism. Although Aristotle considered private property as a result of one's labor and that one deserves this as a fruit of their efforts, he still advocated restrictions through limitations on inheritance.
