[owner] + 的 + [thing] [owner] + 的 [pronoun] + [family member / close relation]
的 marks the owner. It goes between the owner and the thing owned, in that order – like English "'s", not like "of".
"My", "your" and "his" are 我的, 你的, 他的 – the ordinary pronoun plus 的, with no separate possessive word to learn.
Drop the noun when it is obvious and 的 stands alone, meaning "mine", "yours", "the teacher's".
After a pronoun, family members and a handful of close relationships leave it out: 我妈妈, 你哥哥, 他朋友. Keeping it is not wrong, but the shorter form is what people say.
It drops for your home and for a group you belong to as well: 我家, 我们学校, 我们公司.
Ordinary things you own keep 的.