The right to have private property can find sanction in Scripture. It is not necessarily more spiritual to have no property or to have all things in common to the point that there is no private ownership. It could be more spiritual to share what you own with those in need than to have common ownership.
Scripture reveals that in the age to come, each will sit under his own vine and his own fig tree and not be afraid. Having one's own fig tree is a characteristic of the coming kingdom.
1 Now it shall come to pass in the latter days That the mountain of the LORD's house Shall be established on the top of the mountains, And shall be exalted above the hills; And peoples shall flow to it.
2 Many nations shall come and say, "Come, and let us go up to the mountain of the LORD, To the house of the God of Jacob; He will teach us His ways, And we shall walk in His paths." For out of Zion the law shall go forth, And the word of the LORD from Jerusalem.
3 He shall judge between many peoples, And rebuke strong nations afar off; They shall beat their swords into plowshares, And their spears into pruning hooks; Nation shall not lift up sword against nation, Neither shall they learn war anymore.
4 But everyone shall sit under his vine and under his fig tree,
And no one shall make them afraid;
For the mouth of the LORD of hosts has spoken.
Micah 4:1-4
Personal property gives one a sense of significance and security.
If one has property that produces, it becomes a means of personally providing for others who do not have.
The Old Testament Law directed farmers of the land to not reap the corner of their fields completely so that the poor of the land could find themselves something to eat.
If a person had to sell their property due to debt, they would receive the property back in the year of Jubilee, because that property was theirs forever.
The right to Property forever was the promise to Israel in the land of Canaan.
“...you shall consecrate the fiftieth year and proclaim liberty throughout all the land to all its inhabitants. It shall be a Jubilee for you; and each of you shall return to his possession, and each of you shall return to his family. 11 That fiftieth year shall be a Jubilee to you...”
Leviticus 25:10-11
The only way one should lose their property is through selling it or giving it away.
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