Red carpet, half belonging to me (7)
I believe the answer is:
carmine
'red' is the definition.
(I know that carmine is a type of red)
'carpet half belonging to me' is the wordplay.
'half' indicates taking half.
'belonging to me' becomes 'mine' (I've seen this before).
'carpet' halved is 'car'.
'car'+'mine'='CARMINE'
(Other definitions for carmine that I've seen before include "Crimson pigment" , "Vivid red colour" , "Bright red" .)