This chapter is titled “On Property,” and covers the most basic parts of Locke’s theory of property.
To summarize, man owns his labor and the stuff he mixes his labor with from out of the commons in the State of Nature.
However, the Law of Nature prohibits man from appropriating things and then wasting or destroying them.
In society, positive rules are created to handle the rules for ownership and transfer of property.
It’s here that Locke seems to dig himself into a bit of a hole, both by making some assumptions about the positive laws of society and about the tendency of man in the State of Nature to only appropriate that which he can cultivate.