The state has might. It doesn't need to be right. Ownership is a legal concept - not a moral one.
And yes, I think Hobbes was more sensible than Locke.
Actually, both statements "might makes right" and "ownership" imply moral concepts. Determining which concept is the more moral of the two is in question.
And you will note that I didn't say "might makes right" I said "It doesn't need to be right."
I'm an atheist so not particularly interested in the moral aspect of ownership. "God says I own it really" is a hard argument to counter and if you go to Israel, its a very popular logic.