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Related to wastefulness: prodigality, refuse to allow


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 ?
"The relationship with the ISI, the double-dealing, the attitude, and frankly wastefulness of resources towards India, the question of cooperation with respect to Afghanistan" were the issues over which Pakistan needed to change its attitude, the added.
The King's Speech actor and his wife own a store in London selling ecological products and accessories, but Colin admits despite having a whole shop dedicated to helping people be more eco-friendly he is, "in love with wastefulness".
But substitute Asamoah Gyan sealed a victory which took Sunderland to 30 points for the season with a third at the death to provide the perfect antidote to their wastefulness against the Seasiders in front of a crowd of 36,242.
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"Hassan blamed the strikers for their wastefulness in the friendly match," Zamalek said on their website.
The visitors eventually took advantage through Stephen Hunt's 75th-minute header, with Gary Caldwell's own-goal making it 2-0 three minutes later, and Martinez rued Wigan's wastefulness.
Perhaps we may not pay for our wastefulness, but our children will surely pay for it in the future.
The imbalance between countries, wastefulness and unlimited consumption as well as excessive greed all contributed to the global crisis, Erdogan said.
These research articles on recycling practices focus on continued wastefulness in developed countries and increased efforts to establish national mindsets and infrastructures for conservation.
The crisis, he added, forces wastefulness to be stamped out: it will drain grants and the financing of projects and "if companies need to self-finance their investments and their development, this will restrict growth".
This work explains two primary factors that contribute to the largely false impression of higher education's wastefulness which, unfortunately pervades both legislatures and the general public today.
At work, the hospital environment unavoidably consumes a lot of 'single-use' materials, but there are many areas where we can counter this wastefulness.