We reviewed the principles and key literature related to forest tenure and sustainable forest management, and then examined the status of sustainable forestry and land ownership at the aggregate national level for major forested countries. The institutional design principles suggested by Ostrom are well accepted for applications to public, communal, and private lands. The analyses of countries as a whole suggest that problems of forest land loss and sustainable forest management are related to the amount of public lands owned, as well as the difference between developed and developing countries. Developed countries have largely achieved a stable level of land use and resource extraction after centuries of exploitation of forests and natural resources. Many developed countries do have greater amounts of private forest land than developing countries, which have occurred as the countries transfer lands to private owners in the course of development. Public lands and management approaches require diligence, but can be developed to meet the design criteria suggested by tenure rights theorists. Private or communal ownership is often considered superior, but also must meet the criteria suggested above in order to foster sustainable forest management in poor countries.