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Private property is basically the stuff you, and only you, own but do not [participate] in [using] yourself though you get whatever benefit that stuff contributes to. For example, a factory is the private property of a factory owner, though the factory owner (boss) doesn't actually work within the factory and instead hires people (wage laborers) to work in the factory producing stuff, though the boss collects whatever profit the workers in the factory produce. It is also know as "impersonal property" and is considered the defining part of capitalism. Anarchists (most notably P.J. Proudhon) and communists contrast private property with personal property, personal property being things like the house you live in, your bed, your guitar, your computer, your shoes, etc. which you are actively using for yourself and thus have the right to exclude others. Private property on the other hand creates an [illegitimate] authority and, [according to] them, must be abolished.
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