Peculiar borders of territory in land one owns (8)
I believe the answer is:
property
'land one owns' is the definition.
I can't tell whether this definition defines the answer.
'peculiar borders of territory' is the wordplay.
'peculiar' becomes 'proper' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'borders of' suggests removing the centre.
'territory' with its centre taken out is 'ty'.
'proper'+'ty'='PROPERTY'
'in' is the link.
Can you help me to learn more?
(Other definitions for property that I've seen before include "Quality; building" , "Attribute; chattel" , "Tangible possession" , "Possessions; characteristic" , "Premises" .)