wastewaste ( n )
1 :destruction of or damage to property that is caused by the act or omission of one (as a lessee, mortgagor, or life tenant) having a lesser estate and is usu. to the injury of another (as an heir, mortgagee, or remainderman) with an interest in the same property [an action for ⁓]
ameliorating waste ə-mēl-yə-rā-ti- :waste that leads to improvement of property (as by clearing the way for rebuilding something)
permissive waste :waste caused by the failure of a tenant to take ordinary or proper care of the property
voluntary waste :waste caused by the intentional commission of a destructive act by a tenant
2 :a reduction of the value of assets (as in a trust) caused by a failure to exercise proper care or sound judgment in managing them
Merriam-Webster’s Dictionary of Law ©2016 Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.