Chapter 28 - § 28.5 • WASTE

• Jurisdiction: Colorado

§ 28.5 • WASTE

At common law, "waste" referred to any unauthorized destruction or severance of improvements, trees, minerals, or other corporeal hereditaments on or from the land belonging to another by one who did not have title but who was rightfully in possession. This concept has evolved and broadened into a legal means by which any concurrent nonpossessory holder of an interest in land is enabled to prevent or restrain harm to land committed by persons in possession. However, the existence of a vested interest in the property, such as a remainder or reversion, is a vital prerequisite to maintenance of an action for waste.¹³⁵

During the period of redemption under foreclosure, the owner of the premises or the person in possession may not commit waste. He or she must keep the premises in repair, must use reasonable diligence to continue to keep the premises yielding an adequate income, must pay current taxes before a penalty accrues and interest becomes due on any prior encumbrance, must keep the premises insured for the protection of the holder of the certificate of purchase, and, in case of a leasehold, must pay the rent and other sums...