What is "wadset"

Wadset \Wad"set\, n. [Scot. wad a pledge; akin to Sw. vad a wager. See Wed.] (Scots Law) A kind of pledge or mortgage. [Written also wadsett.]

n. (context obsolete Scotland English) The conveyance of land in pledge for a debt; a mortgage vb. (context obsolete Scotland English) To mortgage land