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 periodicals archive ?
Rather than minimize this report or excuse wasteful decisions, I expect all DoD organizations to use this error as a catalyst to bring to light wasteful practices," he wrote.
Drawing on research with about 1,000 management and executive students, the authors identify five spending traps--made with money, time, energy, or other resources--that lead to wasteful actions by managers in organizations who are dealing with people problems: recycling old solutions for current problems, investing additional resources into failing projects, avoiding conflict to feel like a team player, communicating too frequently over too many channels, and assuming employees don't need direction.
industry is in the midst of hectic preparations for the Auto Expo, Bajaj Auto managing director Rajiv Bajaj on Monday struck a contrarian note saying it is too expensive to participate in the biennial event and creating expensive concepts entails wasteful expenditure.
Fully shielded light fixtures are covered on all sides and direct the light through a single focal point, thereby preventing excessive lighting that produced distracting and wasteful glare.
Meanwhile, inefficient and wasteful practices have grave consequences for the environment.
Anyone who has worked either in or with the institutions in Europe can see at best a number of the practices are wasteful and at worst they are dishonest.
So let not Bahrain resort to this wasteful and unnecessary practice of making its people squander their precious time in the guise of undesirable and avoidable holidays.
According to sources close to Mukherjee, he is fully aware about the extent of wasteful expenditure at the Rashtrapati Bhawan and one of his first steps would be to call for austerity measures and streamline expenses.
Sheffield was named the most wasteful city in the UK, with Brighton and Bristol the least wasteful.
com)-- Agreedo, a division of Siehec GmbH, based in Munich, Germany, announces the launch of their free online service that helps companies save money by optimizing wasteful meetings.
Like many residents of Clinton, I am upset and frustrated with the wasteful spending and want it stopped.