The article attempted to argue the priority of public ownership as a prerequisite for optimal and rational living arrangement of society. The author believes that public ownership is represented as a state (which is collectively) as a common heritage of people and other collective forms. Argues that collective ownership is best justified economically and is more equitable from the collective point of view. Particular attention is paid to this form of ownership, as a common heritage of people, its constitutional and legal principles have been studied. It has been concluded that the prevalence of one form of ownership in the state - is the way to authoritarianism, as necessary diversity of ownership, but with the priority of public and national interest. The author considers the priority of social and working private property in the state as a guarantee of formation of a democratic government, the maximum and equitable content of needs and interests of all members of society.