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Holman Bible Dictionary [1]

 Ruth 4:7 2 Kings 8:1 Leviticus 25:25

While it is true that the king did purchase lands from his subjects, private lands were subject to seizure by the ruler. Royal land was given as revenue-producing gifts by the ruler to members of his family or men who gained his favor. Often the land was tenant farmed for the king who continued to hold the ultimate right of its disposal. When economic times were difficult, kings exchanged their lands for other services, such as Solomon's gift of land to Hiram of Tyre for gold and laborers in the building of the Temple ( 1 Kings 9:11 ). Priestly families and local shrines also owned land, especially that surrounding the levitical cities, where the priests farmed their own fields ( Joshua 21:1 ). With the consolidation of worship in the Jerusalem Temple, many of the priestly lands were sold.

Private ownership continued in much the same fashion during the New Testament era. Bills of sale and land deeds written on papyrus scrolls from this period have been discovered, attesting to the exchange of private lands. Often the sale of private land was subject to royal approval. The Romans oversaw the control of lands in Palestine, requiring heavy taxes from owners. The early Christian community existed through the generosity of those members who sold many of their possessions to help poorer believers.

David Maltzberger

Webster's Dictionary [2]

(n.) The state of being an owner; the right to own; exclusive right of possession; legal or just claim or title; proprietorship.