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wadset

/ ˈwɒdˌsɛt /

noun

  1. another name for mortgage
“Collins English Dictionary — Complete & Unabridged” 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

verb

  1. tr to pledge or mortgage
“Collins English Dictionary — Complete & Unabridged” 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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Word History and Origins

Origin of wadset1

C14: wad, a Scottish variant of wed + set 1; compare Old English wedd settan to deposit a pledge
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Example Sentences

The estates of Glengyle were pledged, or, as it is called in Scotland, "under a contract of wadset."

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