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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 ?
Table 3 shows the respondents' level of receptiveness to the Solid Waste Management System. The respondents were moderately receptive to the implementation of the solid waste management system that starts with waste characterization and waste composition to waste minimization through the use of substitute materials like metal spoon and fork instead of plastic and food tray or plates instead of styrofoam boxes.
But he added, "If we stick to our timeframes, which more than cover the EU goal for a complete system by 2020, we will have a modern and complete solid waste management system by 2015".
Each of the ten subchapters ends by emphasizing general details on the financing of urban waste management system. The description of the main sources and opportunities for system funding, as well as the presentation of collection, transportation, treatment and disposal of urban waste costs are important both for citizens and policy makers and private operators, which aim to obtain profits from urban waste collection and treatment activity.
Enough is enough, now is the time for Governor Lynch, the state Legislature and Department of Environmental Services to fix our state's broken waste management system.
A new tool currently available to municipalities helps optimize solid waste management systems by identifying the economic and environmental effects of those systems and of any proposed changes to those systems.
A solid waste management system will be required for the resort property.
have joined forces, establishing the joint venture, HVS-R/E Hospitality Waste Management Systems, to enable the hospitality industry to slash its waste costs.
Addressing a meeting on solid waste management held at Shahbaz Building on Wednesday, presided over by Hyderabad Commissioner Mohammad Abbas Baloch, Dr Mangnejo said solid waste management systems were working in many parts of the world and in Sindh it was successfully working in four districts of Karachi.
'It is a known fact that the former waste management system in Lagos was fraught with a lot of drawbacks that is not in sync with the status of the state as a mega city by the deployment of outdated and faulty compactors which were always breaking down; the short supply of personnel, etc.
LAHORE -- The Walled City of Lahore Authority (WCLA) has started waste management system from Delhi Gate, WCLA spokesperson Tania Qureshi said on Friday.
The data will help design a modern solid waste management system at Hub.

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