1. a form of mortgage in Scots law where land is pledged as security for a debt
Usage: Scots law; archaic

1. to pledge or mortgage land as security for a debt
Usage: Scots law; archaic

Examples

• The laird granted a wadset on his estate to secure the loan.
• Under Scots law, a wadset allowed the creditor to possess the land until the debt was repaid.
• He decided to wadset his property rather than sell it outright.
• The wadset agreement specified the terms of repayment.
• Many Scottish landowners used wadsets to raise capital in the 17th century.