wadset
Upper-Intermediate (B2)
IPA: /ˈwɒd.sɛt/
KK: /ˈwɒdset/
noun
Definition
A legal agreement where land is given as security for a loan or debt, similar to a mortgage.
Example
The bank accepted a wadset on the property to secure the loan.
Conversation
Have you ever thought about taking out a wadset for a house?
Yeah, but I'm not sure how it works exactly.
Well, a wadset is like a mortgage where the land is pledged as security.
That makes sense! I guess it's important to understand before committing.
Synonyms & Antonyms
Synonyms
mortgage
pledge
security
Antonyms
debt
loan
liability
verb
Definition
To use land as security for a loan, allowing the lender to take possession if the borrower fails to repay.
Example
He decided to wadset his property to secure a loan for his business.
Tense Forms
Past: wadsetted
Past Participle: wadsetted
Conversation
I heard you decided to wadset your property, is that true?
Yeah, I needed some funds for renovations.
That makes sense; it's a smart way to leverage your assets.
Root Explanation
Wadset originates from Old English 'wadset', meaning a pledge or security for a loan. It refers to a form of mortgage or security interest in property.
Memory Tip
Think of a 'pledge' or 'security' for a loan when you hear 'wadset', as it directly relates to the idea of securing a loan with property.
Visually Confused Words
wedset
wast
wase
wade
adet