Sc. Also 7 wodsetter. [f. WADSET v. and sb. + -ER1.]
1. One who puts his land to wadset; a mortgagor. rare.
1625. in Ld. Durie, Reports (1690), 43. He had Comprised the Reversion of the same Lands, which he had in Wodset of before, from the Wodsetter.
1864. Ld. Deas, in Scots Revised Rep., Ser. III. (1902), III. 330. The right of property in the lands remained with the wadsetter, subject to the burden of the wadset; and when the wadset was subsequently discharged, that burden was effectually wiped off.
2. One who holds by a wadset, a mortgagee.
1678. Sir G. Mackenzie, Crim. Laws Scot., I. xxiv. § iv. (1699), 122. The Wadsetter runs all hazard of the Lands Wadset to him.
1758. in Nairne Peerage Evid. (1874), 67. James and George Neasmyths wadsetters of a part of Ardblae.
1799. R. Bell, Syst. Forms of Deeds Scot., II. 23. The purpose of this act was to preserve the right of the reverser, who, by these absolute rights had been exposed to the acts of the wadsetter.
1814. Scott, Wav., xx. The elders of his own tribe, wadsetters and tacksmen, as they were called, who occupied portions of his estate as mortgagers or lessees.
1889. W. Lockhart, Ch. Scot. in 13th Cent., 104, note. His father, James Innes, being a wadsetter at Drumgask.
