wasting property

wasting property definition - legal

n

Ownership, right to, or interest in a wasting asset.
wasting asset
An asset that will be consumed through normal use, such as the gold in a gold mine, oil in an oil well, or a copyright.

Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.

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