Equitable Waste
Under English law and Australian law, equitable waste is waste that a life tenant has a right to commit at common law but is restrained by a court of equity. This doctrine fits under the broader framework of equity, in which a legal right to do something is not so unrestrained that it is impossible to abuse that right. A life tenant who is granted an estate "without impeachment of waste" (may not be sued for waste) may not commit acts of flagrant destruction inconsistent with the fruitful use of the land. For example, a mansion may not be stripped of its glass, timber or pipes (Vane v Lord barnard), and trees of an ornamental value may be cut down by the life tenant (Turner v Wright).
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Famous quotes containing the word waste:
“A route differs from a road not only because it is solely intended for vehicles, but also because it is merely a line that connects one point with another. A route has no meaning in itself; its meaning derives entirely from the two points that it connects. A road is a tribute to space. Every stretch of road has meaning in itself and invites us to stop. A route is the triumphant devaluation of space, which thanks to it has been reduced to a mere obstacle to human movement and a waste of time.”
—Milan Kundera (b. 1929)