The origin of the right to private property comes from an individual making a part of the earth his own by means of his work. With work and the use of one’s intelligence, an individual exercises dominion over the earth and makes it a good home. Private property assures a person of the exercise of his personal and family autonomy and is an extension of human freedom; it is one of the conditions for civil liberty. The Church’s social doctrine requires that ownership of goods be equally accessible to everyone, and that everyone become to some extent owners.
Christian tradition, though, has never recognized the right to private property as absolute and untouchable. This right exists within the context of the right of all to use of the goods of the earth; the right to private ownership is subordinate to the right to common use, i.e., that good are meant for everyone (universal destination of goods).
This right to private property, subordinate to the right to common usage, is further limited by the preferential option for the poor. This preferential option has a special primacy because it is an expression of charity. The preferential option for the poor essentially requires that we give particular concern and focus to the poor, the marginalized and all those living in conditions interfering with their human growth. It demands that the requirements of justice be tempered by charity. It at times requires we relinquish our private property to the poor.
For further discussion of this, refer to the Compendium of the Social Doctrine of the Church, Nos. 176-184.