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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 ?
Meanwhile, the public is urged to compost as biodegradable wastes will not be collected.
For decades, the global trade in recyclable rubbish saw rich countries in the West send their used plastic waste to Asia - especially China - to be recycled.
'With the amendment, plastic wastes are more clearly classified and plastic waste-exporting countries need to have special consideration or PIC from importing countries before any cross-border movements of the plastic wastes are carried out,' she said at a media conference at the ministry here today.
In a linear waste management approach, organics are wasted instead of being turned into a resource.
Keep plastic from the kitchen clean and dry and drop into the dry waste bin.
Environment CS Keriako Tobiko in the National Waste Management Policy says waste, if processed well through reusing,recycling, or composting, will produce useful products or sources of energy.
He said that 800kg medical waste was being disposed of daily at a private hospital, Darul Ehsan Hospital, 250kg waste at new Saif Pakistan Hospital, 130kg waste at Aziz Fatima Hospital, 100kg waste at Mian Trust Hospital, 60kg waste at General Hospital Ghulam Mohammadabad, 30kg medical waste at Tehsil Headquarters (THQ) Hospital Jaranwala, 15kg medical waste at THQ Hospital Sammundri and 12kg medical waste was being disposed of at Saint Rafael Hospital daily.
At 460,322.16 tonne, municipal solid waste accounted for 40.01 per cent of the total waste collected by Tadweer's facilities in the first six months of 2018, while green waste collected from residential areas and farms recorded 267,716.61 tonne or 23.3 per cent of total waste, and bulky waste amounted to 58,754.99 tons, constituting 5.12 per cent of total waste.
Tadweer collected 1.09 million tonnes of waste in the emirate in the first half of last year.
The company handed over 500 skip trucks, 1,000 waste bins, and 20 tricycles to the MMDAs for the efficient collection and management of waste.
Mohammad Ali Sekhri, who provides hospital waste management solutions, told Dawn that roughly 1,000 to 2,000kg of waste is properly incinerated.
So, the problem we have is that waste is being produced faster than it is being collected.