Peripersonal space (PPS), as opposed to extrapersonal space (EPS), refers to the area surrounding the body within which individuals interact with objects or conspecifics. However, objects in PPS can belong to oneself or to others, which was found to influence how these objects are encoded. We analyzed the performances of motor responses in a reachability judgment task concerning self-owned and other-owned objects (cups) presented in PPS or EPS. EMG activities were recorded on the thumbs (flexor pollicis brevis) to detect correct and erroneous motor activations. Behavioral data showed that motor responses were shorter and longer for self-owned cups compared to other-owned cups in PPS and EPS, respectively. Ten percent of trials showed initial response errors, which were higher in the EPS for self-owned cups and in the PPS for other-owned cups. Eighty-two percent of these errors were corrected online, with corrections being more efficient for self-owned cups in the PPS. Overall, the data revealed that reachability judgments were faster and more accurate in the PPS, with more efficient inhibition processes in the presence of motor errors. Motor selection and correction are thus modulated by the social context of object ownership, highlighting the specific role of the PPS in encoding self-relevant objects for action.