Usually means: Temporary transfer of land ownership.
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We found 4 dictionaries that define the word wadsett:

General (4 matching dictionaries)
  1. wadsett: Wiktionary
  2. wadsett: Dictionary.com
  3. wadsett: Webster's 1828 Dictionary
  4. wadsett: FreeDictionary.org

Definitions from Wiktionary (Wadsett)

noun:  Alternative form of wadset [(obsolete, Scotland) The conveyance of land in pledge for a debt; a mortgage.]
verb:  Alternative form of wadset [(obsolete, Scotland) To mortgage land.]

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