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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


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 ?
This rubbish does not look very good when prospective students for next year are looking for accommodation in the area.
He said their livestock was eating the rubbish and dying while others were contracting diseases.
Last month, they were finally able to claim that the canal was rubbish-free and residents were now disposing of their rubbish in an orderly manner.
Giorgos Perdikis, the leader of the Greens, said that through this campaign, his party "sent the message that nature is not a rubbish dump." He wished people a fun day, but urged them to enjoy nature "in a way that would allow us to enjoy it every day and not just on Green Monday," and "not to leave rubbish behind."
In just over three hours, the group collected an eye-watering 30 tonnes of rubbish from the coast in Lampung province.
Azmi and Rashid were also seen picking up rubbish from the ground as well.
"But the council has done nothing to pick up all the rubbish,"said Eric McNally, of Foxbar Tenants Association.
These arguments can cost householders large sums as they've had to pay for rubbish to be collected, or even fork out for legal fees to resolve the dispute.
Mrs Wells said she contacted Charnwood Borough Council and they acted swiftly to remove the rubbish.
Auctioneer Dave Hill, 63, said: "We dispose of our rubbish commercially at Oakbank because none of the dumps would take stuff from our vans and staff turn you away.
A homeowner who had been doing up her house had called Allan to remove the rubbish which included old carpets and furniture, the court was told.
Bags of household waste, toys, boxes and what looks like a carpet are among the rubbish strewn next to the bins.