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 ?
Damaged and laid waste by conquerors through the years, the Church of the Holy Sepulchre was rebuilt over the foundations of Helena's basilica in 1149 by the Crusaders, and that is the one we see today.
As the artist quotes Michel de Certeau on the '68 riots, the footage cuts to a still image of a European police car being laid waste by angry teens.
Machu Picchu is being unbuilt - though no one knows exactly what it was like before being laid waste by earthquake and jungle.
Forty years ago, in The Death and Life of the Great American Cities, the great Jane Jacobs laid waste to the idea that a town or city can be built like a machine.
Would he care to enlarge on the marvelous invention with which he laid waste to the NFL?
Despite this good news, at the height of the crisis many Asian contemporaries saw the hedge funds as the financial equivalent of the B-52s that in the past had laid waste to Cambodia and Vietnam.
While miners a century ago laid waste to their surroundings with heedless brutality, they, in turn, could not have imagined the massive scale of mining operations in the 1990s.
Soon, since there are no heirs to the throne, the country falls into civil war and is laid waste.
9, Yolanda laid waste to a total of 9,857 metric tons (MT) of rice, corn and high-value crops on some 5,500 hectares of farmland.
But they seem to forget Germany started a bloody war that laid waste to Europe.
The explosion left a giant crater and laid waste to dozens of 1960s-era homes in the hills overlooking San Francisco Bay.
IF you missed ITV's Sunday night show in which Michael Ball, Craig David and Pixie Lott laid waste to songs from cartoons, don't watch the repeat.