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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 ?
Research variables were waste management plan waste collection waste segregation checking reuse of disposal items internal transport protection of workers infectious waste treatment waste storage on site disposal and offsite disposal.
* Plastics waste recycling is one of the most es tabl ish e d re cycl in g act ivit ies in economically developed countries.
Based on City Ordinance 1929-2009, commonly known as the Comprehensive Solid Waste Management in Dagupan City, solid wastes shall be segregated into three categories -- recyclable wastes which consist of plastics, bottles, and cartons; special wastes such as paint, batteries, home appliances, and hospital wastes; and residual wastes such sanitary napkins and disposable diapers.
She said Malaysia also fully supported Norway's proposal for plastic wastes to be listed under Annex II of the treaty - the category of wastes requiring special consideration.
Undersized organic wastes (diameter and lt;50 mm) are mostly organics.
Historically, waste has been viewed solely as a problem.
This included municipal solid waste, green waste and bulky waste from residential areas, animal waste from farms, slaughterhouse waste and low volume demolition and construction waste.
Those wastes are being diverted to other countries, including Thailand, which recently saw additional Chinese-owned recycling facilities established in Chacheongsao that is close to the Laem Chabang Industrial Estate.To curb the trend, Sonthi has placed hopes on an e-waste management bill drafted four years ago, but still under deliberation by the National Legislative Assembly.
PESHAWAR -- The health department has drafted hospital waste management rules to ensure proper disposal of waste generated at the public and private medical institutions and safeguard people and staffers against its hazardous effects.
At the same time, Cimatu appealed to tourists to be responsible for their wastes and avoid littering, especially along the shorelines and in the waters.
S., "Identification of the Municipal Solid Waste Characteristics and Potential of Plastic Recovery at Bakri Landfill, Muar, Malaysia," Journal of Sustainable Development, 5(7): 11-17(2012).