wadset Definition
a mortgage or pledge of property that is redeemable by payment of a sum of money.
Using wadset: Examples
Take a moment to familiarize yourself with how "wadset" can be used in various situations through the following examples!
Example
The wadset on the property was redeemed after the payment was made.
Example
He took out a wadset on his house to finance his business.
Example
The bank required a wadset as security for the loan.
wadset Synonyms and Antonyms
Synonyms for wadset
Phrases with wadset
Example
He redeemed the wadset on his house after paying off the loan.
Example
He took out a wadset on his land to finance the construction of his new house.
to fail to make payments on a loan secured by a wadset, resulting in the loss of the property
Example
He defaulted on the wadset and lost his house to the bank.
Origins of wadset
from Middle Low German 'wadesate', meaning 'pledge'
Summary: wadset in Brief
'Wadset' [ˈwɒdsɪt] refers to a type of mortgage or pledge of property that can be redeemed by payment of a sum of money. It is often used as security for a loan, as in 'He took out a wadset on his house to finance his business.' Other phrases include 'redeem a wadset,' 'take out a wadset,' and 'default on a wadset.'
