Common meaning:

Things owned by an individual.

Hidden meaning of the Equity religion: 

Things need to be confiscated from the rich and shared among the poor.

Discussion:

The Equityists think that all rich people oppress the poor simply by having money. This makes it necessary to confiscate what they have and give it to the poor in the name of equity.

Stealing from people is always a bad idea, but the Equity believers are able to justify it by claiming the rich group is oppressing the poor group. This allows them to hide the reality of stealing under the cover of just retribution for past oppressions.

The right for individuals to freely own property is foundational to a free society. Take that away and things quickly degenerate into chaos and thievery.

Individual property rights must be protected.