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 ?
she said, a note of horror creeping into her voice, and flung the unsuspecting vegetable into her wastepaper basket.
Whether being alarmed by bread crumbs costing more than bread, struggling with the inconsistency of being politically conscious and upwardly mobile at the same time, perplexed about buying a wastepaper basket and carrying it home in a paper bag, or worried about being a success in a mediocre world, Tomlin's humor was topical and timeless, smart and biting, but never cheap or mean-spirited.
STA director Brian Wilton said: "The idea that you are not a real Scot unless you are bare under your kilt should be thrown into the same wastepaper basket as the idea you're not a real Scot unless you put salt on your porridge.
From 17 test holes each about the size of a small wastepaper basket, archaeology consultants dug up thousands of artifacts.
it was generally the habit to set up an impromptu cricket game with a wastepaper basket as a wicket, a tennis ball and an old cricket bat.
There's also a cheery polka dot teapot, and a witty wastepaper basket that looks very like a piece of crumpled paper.
He was found wandering around a car park in Satwa by a group of office workers, who captured him in a wastepaper basket.
Clarke must not be allowed to carry through his crackpot rotation scheme, and Vaughan's reported incentive plan should share the same wastepaper basket.
Ever eager to throw himself into a part, Eddie even pulled a wastepaper basket over his head for a scene where Nigel gets stuck in a paint can.
A COVERING letter is your chance to make a good first impression with employersA great letter can lead to an interview, a bad one will get no further than the wastepaper basket.
I can't leave the flowers in a wastepaper basket filled with water at school, and then head for the pub like the other teachers do.
Pieces of his skull that had been blasted with the shotgun were found dumped in a bin bag, a wastepaper basket and down the toilet.