What does it mean to nationalize foreign property

Nationalization

Explanation:

Nationalization, or nationalisation, is the process by which the Government transfer private assets into public assets and they do this bringing these assets under the public ownership of a national government or state. Nationalization often refers to private assets (property) or assets owned by lower levels of government, like The Local Government councils or municipalities being transferred to the state.

The opposites of nationalization are Privatization and De-mutualization. In which case assets or property previously nationalized are privatized, they may be returned to public ownership at a later stage. (Renationalisation)

The telecommunications, electric power, railways, airlines, media, postal services and water are examples of industries that are often Nationalized.

Note that: Nationalization may occur with or without compensation to the former owners especially in cases when the government seizes property acquired illegally.

It basically means the proccess called Naturalization.

Nationalization (or nationalisation) is the process of transforming private assets into public assets by bringing them under the public ownership of a national government or state. Some nationalizations take place when a government seizes property acquired illegally.