I go with Marx's take here: There would be personal property (things you use), but there would not be private (commercial) property. Which means something like a family farm could be inherited if it was run by the family, but any business that's run by a manager would either be nationalized or turned into a workers co-op.

Marxism does not require an equal distribution of wealth. It only requires that everyone gets what we all need: education, health care, housing, food, etc. The basic principle is "from each according to ability, to each according to need." So there would be things like personal wealth, but the things that generate enormous amounts of passive income would belong to us all.