The article analyzes the similarities and differences between the processes of socialization of property and its socialization. These processes represent trends in the development of public property, and therefore the article substantiates the validity of public property, which is contested by a number of Western academic schools. The correlation between public and state property necessitates an analysis of this correlation from the perspective of a more complete consideration of public interests in the system of interests realized through the manage-ment of state property. It is concluded that state ownership is the only form of ownership that can ensure the priority of public interests throughout society. The analysis of the socio-economic content of public property is carried out, which is seen by the authors as satisfying public needs through public goods with the properties of non-competition in consumption (equal accessibility) and non-exclusivity. These properties make it possible for public property to be individualized. Both the socialization of property and its socialization are reflected as the development of a system of public ownership through the expansion of its scope and the complication of forms of social appropriation. The socialization of property turns out to be a special case of the processes of socializa-tion of property. Both the socialization of property and its socialization contribute to the development of the so-cial productive force of labor and the socio-economic potential of society.