13 Religious should diligently practice and if need be express also in new forms that voluntary poverty which is recognized and highly esteemed especially today as an expression of the following of Christ. By it they share in the poverty of Christ who for our sakes became poor, even though He was rich, so that by His poverty we might become rich (cf. 2 Cor. 8:9; Matt. 8:20). With regard to religious poverty it is not enough to use goods in a way subject to the superior's will, but members must be poor both in fact and in spirit, their treasures being in heaven (cf. Matt. 6:20). Religious should consider themselves in their own assignments to be bound by the common law of labor, and while they procure what is required for their sustenance and works, they should banish all undue solicitude and trust themselves to the provident care of their Father in heaven (cf. Matt. 6:25). Religious congregations by their constitutions can permit their members to renounce inheritances, both those which have been acquired or may be acquired. Due regard being had for local conditions, religious communities should readily offer a quasi-collective witness to poverty and gladly use their own goods for other needs of the Church and the support of the poor whom all religious should love after the example of Christ (cf. Matt. 19:21, 25:34-46 James 2:15-16; 1 John 3:17). The several provinces and houses of each community should share their temporal goods with one another, so that those who have more help the others who are in need. Religious communities have the right to possess whatever is required for their temporal life and work, unless this is forbidden by their rules and constitutions. Nevertheless, they should avoid every appearance of luxury, excessive wealth and the accumulation of goods.
Source: Perfectae Caritatis (Vatican.va)