wadset noun 1verb 1forms 3 noun1 •(Scotland, no longer used) The conveyance of land in pledge for a debt; a mortgage.It was at this time that Rob Roy acquired an interest by purchase, wadset, or otherwise, to the property of Craig Royston already mentioned. — 1829 verb1 •(Scotland, no longer used) To mortgage land.I thought I heard the footstep of the young portioner of Glaiketha; he'll be come to borrow gold and to wadset land. — 1822 formswadsetted · wadsetting · wadsets