No, no, no, NO! There is NO legalese that you can post on your Facebook wall that will protect your privacy nor the ownership of your posts and photos. The agreement between you and Facebook is completely defined by the Terms of Service you agreed to when you set up your account.
Maybe it has something to do with the Red Moon we recently saw, but the Facebook privacy notice hoax is making the rounds again. I know the Facebook terms can be a bit daunting, so here’s what you need to know.
2) You retain ownership of your images and posts, no matter what your privacy settings. HOWEVER, you have granted Facebook “non-exclusive, transferable, sub-licensable, royalty-free, worldwide license to use any IP content that you post on or in connection with Facebook (IP License). This IP License ends when you delete your IP content or your account unless your content has been shared with others, and they have not deleted it.”
In other words, once you post on Facebook, they can do just about anything they want with it, limited only by the privacy settings for that specific item. When you delete an item, it continues to live if someone else shared it.
For example, let’s say I post a picture of five friends with a privacy setting of My Friends and friends of anyone tagged. Upon seeing the photo, a few of my friends share it with their friends (by using the SHARE button to post it to their Facebook wall.) One day, I have a terrible fight with one of the people in the photo, and I just don’t want to see it on my Facebook wall ever again. So I delete it. Does it disappear completely? No, it continues to live on until everyone that shared it also deletes it.