Ownership is at the heart of people's daily activities and has been throughout history. People consider ownership when acting on objects, engaging in financial matters, and assessing the acceptability of actions. We propose that people's understanding of ownership depends on an early-emerging, causally powerful, naïve theory of ownership. We draw on research from multiple disciplines to suggest that, from childhood, a naïve theory of ownership includes ontological commitments, causal-explanatory reasoning, and unobservable constructs. These components are unlikely to stem from other core theories or from noncausal representations. We also address why people might have a naïve theory of ownership, how it develops across the lifespan, and whether aspects of this theory may be universal despite variation across cultures and history. Highlights We propose that people's understandings of ownership constitute a naïve theory, with distinctive ontology, causal-explanatory reasoning, and unobservables. Ownership is a distinct domain of reasoning. Traditionally proposed domains (i.e., psychology, biology, physics) are insufficient to explain people's understandings of ownership. Successful reasoning about ownership requires a cognitive system that considers more than perceptual information. From early childhood, people's naïve theory of ownership is causally powerful and allows them to explain and predict actions directed towards property. Even toddlers recognize major ontological commitments of ownership and that ownership uniquely permits reasoning about owners and property. Aspects of ownership reasoning show continuity across cultures and history, suggesting that it may be subserved by a foundational naïve theory. [ABSTRACT FROM AUTHOR]