Inheritance is the practice of receiving private property, titles, debts, entitlements, privileges, rights, and obligations upon the death of an individual. The rules of inheritance differ among societies and have changed over time. Officially bequeathing private property and/or debts can be performed by a testator via will, as attested by a notary or by other lawful means.
From William Hogarth's A Rake's Progress. "The Young Heir Takes Possession Of The Miser's Effects".
Private property is a legal designation for the ownership of property by non-governmental legal entities. Private property is distinguishable from public property, which is owned by a state entity, and from collective or cooperative property, which is owned by one or more non-governmental entities.
Proprietas Privata (PP) British period marker in San Martin, St. Paul's Bay, Malta
Factories and corporations are considered private property.
Gate with a private property sign