Hazrat Moulana Ashraf Ali Thanwi (rahmatullahi ‘alaih) once mentioned the following:
There is no item in my home regarding which is not known to me whether it belongs to me, or it belongs to someone else in my household. There is great benefit in this (i.e. making the ownership of each item known to all). If someone passes away, then people will not be in doubt as to who is the owner of each item (i.e. the possessions of the deceased will be known to all), hence, the distribution of the inheritance will be easily and correctly carried out.
(Malfoozaat Hakeemul Ummat 13/214-215)