Well, during the October Revolution, the bolsheviks overthrew the bourgeoisie and the peasants overthrew the kulaks, expropriating and redistributing their wealth among the populace. In Marxist theory, the working class people who are eternally pitted against the historical owners of the means of production are known as the proletariat, derived from its origins in Roman law.
I ended up using the verb expropriate, but that wasn't the one I was reaching for. I have a recollection that there's another, more specific, and morphologically more obvious synonym (perhaps derived from the root public).
What are other words which describe the act of the government (often forcibly) taking ownership of private property, so that the property is under the collective ownership of the public?
After the Revolution, the new communist Cuban government ___ized many sugar mills, angering foreign interests who had invested in their creation.
Note: the word is not "eminent domain", which describes a policy which permits the act I'm describing, nor is it expropriate nor appropriate, which are often used in contemporary discussions of governments making use of eminent domain.