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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Dafydd said: "Months of hard work have gone into ensuring that Gwynedd Environmental Waste Services fulfilled the requirements set by the OHSAS 18001 - our staff are to be highly commended for going the extra mile to ensuring we reach these high standards."
Ellsin, which is partially owned by Environmental Waste, has the sales and marketing rights to the technology for passenger tires in Canada and the U.S.
We've seen that many companies have taken responsibility for their contribution to environmental waste and decreased the size or changed the shape of their bottles to reduce the amount of plastic used.
We don't just have to put up with speeding traffic, but also heavy goods, industrial waste, environmental waste, metal waste and freight trucks from China, Italy, Holland and Spain day and night.
Darren brings with him experience from the environmental waste sector spanning more than 10 years working for regional waste firms.
(AGL605) STEPHEN SIMMS - ENVIRONMENTAL WASTE INTERNATIONAL INC.
The enhanced version of the TipCharger System incorporates a controller module that helps increase the reproducibility of results, shorten automation cycle times, and eliminate environmental waste and liquid disposables in automated assays.
Unlike custom fit furniture modules, which can create large amounts of environmental waste, standardized workstations are interchangeable, flexible and have the longevity to grow with a company.
He is trying to highlight the environmental waste caused by the major water companies through leakages.
To reduce environmental waste by supporting an initiative that provides recycled computers to disadvantaged individuals and families in the Peel region.
provides comprehensive civil and environmental engineering project management services including specialists to design, permit, build and operate environmental waste clean-up treatment systems using conventional, biological and filtration technologies.
One example of this is in Plano's Department of Environmental Waste Services, which opted to install an automated vehicle location (AVL) system as early as 1995.

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