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wadsetter

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wadsetter
wadsetter Sc. (ˈwɒdsɛtə(r)) Also 7 wodsetter. [f. wadset v. and n. + -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... Oxford English Dictionary
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wadset
▪ I. wadset, n. Sc. Now obsolescent. (ˈwɒdsɛt) Forms: 5–7 wedset(t, 6–8 wodset(t, 7 waddset, 8 wadsett, 6– wadset. [f. wadset v.] 1. Sc. Law. ‘The conveyance of land in pledge for, or in satisfaction of, a debt or obligation, with a reserved power to the debtor to recover his lands, on payment or pe... Oxford English Dictionary
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Mortgage law
The borrower (reverser) conveyed by charter a fee simple estate, in consideration of a loan, to the lender (wadsetter) who on redemption would reconvey The difficulty with this arrangement was that the wadsetter was absolute owner of the property and could sell it to a third party or refuse to reconvey wikipedia.org
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reverser
reverser (rɪˈvɜːsə(r)) [f. reverse v. + -er1.] 1. a. One who or that which reverses (in various senses of the transitive verb).a 1743 Ld. Hervey in Dodsley Collect. Poems (1782) IV. 100 Dreams, the kind reversers of my pain. 1868 Coffin tr. Ligouri's Glories of Mary 87 Reverser of misfortunes,..list... Oxford English Dictionary
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voluntary
voluntary, a., adv., and n. (ˈvɒləntərɪ) Also 5–7 voluntarye, -arie, 8 -erie; 7 volontarie. [ad. OF. voluntaire (14th c.), volontaire (16th c.; mod.F. volontaire = It. volontario, It., Sp., Pg. voluntario), or ad. L. voluntārius, f. voluntas volunty.] A. adj. I. 1. a. Of feelings, etc.: Arising or d... Oxford English Dictionary
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