waste


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Waste

In real estate, a change in a property's value caused by a lessee or another person who has possession but no ownership rights. Waste usually results in a reduction in the property value, for which the owner ordinarily is entitled compensation. Waste may be positive or negative; positive waste results from the possessor's act, while negative waste results from his/her omission. An example of the former is destroying the floor with a sledge hammer, while an example of the latter is neglecting a termite infestation for so long that the floor collapses.

waste

An abusive or destructive use of property by someone who is entitled to possession but who does not have complete ownership rights, such as a tenant, mortgage borrower, or a joint owner.Waste is more than normal wear and tear and implies neglect or misconduct. Contrast with trespass, which is damage by one who is not entitled to possession.There are three types of waste:

1. Voluntary waste (also called affirmative waste) is an intentional change to property resulting in damage to the property.

2. Permissive waste (also called negligent waste) is a failure to maintain property, so that it deteriorates in value.

3. Ameliorative waste occurs when the changes increase the value of the property. In some jurisdictions, a court will still award damages because the owner is entitled to have its property remain in the same condition, without being subjected to others' opinions regarding whether it was improved or not. Other jurisdictions refuse to allow damages, finding that the owner has been benefited by the actions.

References in classic literature ?
for, should these insects alight, it will be laid waste.
Don't waste any time turning up the whites of your eyes at me.
He saw himself perishing amid this dreadful snowy waste, and could see no means of escape.
At the edge of this awful waste was a large, white sign with black letters neatly painted upon it and the letters made these words:
Mightily obliged to you--awful waste of ammunition, really.
If you waste your time in profitless amusement, you cannot, of course, expect to share the rewards of industry.
He patted a client on the shoulder, and, more extraordinary still , he gave a client permission to waste his time.
The day had now fairly opened on the seemingly interminable waste of the prairie.
It spreads forth into undulating and treeless plains, and desolate sandy wastes wearisome to the eye from their extent and monotony, and which are supposed by geologists to have formed the ancient floor of the ocean, countless ages since, when its primeval waves beat against the granite bases of the Rocky Mountains.
That wastes time just as well and does not look so bad.
The enterprise has failed--the Arctic expedition is lost and ice-locked in the Polar wastes.
We came to the comforting conclusion that the Creator probably knew how to run His universe quite as well as we do, and that, after all, there are no such things as `wasted' lives, saving and except when an individual wilfully squanders and wastes his own life--which Leslie Moore certainly hasn't done.