Scottish National Dictionary (1700–)
Hide Quotations Hide Etymology
About this entry:
First published 1968 (SND Vol. VII).
This entry has not been updated since then but may contain minor corrections and revisions.
Quotation dates: 1708-1773, 1838, 1896
[1,1,1,1,1,1,1,1,0,0,0,0,0,1,0,0,0,0,0,1,0,0,0,0,0,0,0,0,0,0]
REVERSE, v. Sc. Law usages in derivs: 1. reverser, one who borrows money on security of land, a mortgager (Sc. 1838 W. Bell Dict. Law Scot. 1030); 2. reversion, (the right of) redeeming mortgagged land.1. Sc. 1722 W. Forbes Institutes I. II. 16:
[A wadset] is voided by mutual consent. when the Wadsetter renounceth it voluntarily upon receiving Payment from the Reverser.Sc. 1773 Erskine Institute II. viii. § 3:
The debtor, who receives the money, and grants the wadset, is called the reverser because he is intitled to the right of reversion.2. Sc. 1708 J. Chamberlayne State Gt. Britain II. iii. vi.:
The Scottish Wadsets and Reversions answer to the English Mortgages and Defeasances.Sc. 1754 Erskine Principles III. viii. § 1:
A heritable right is said to be redeemable, when it contains a right of reversion, or return, in favour of the person from whom the right flows. Reversions are either legal . . . or conventional.Sc. 1838 W. Bell Dict. Law Scot. 828:
Rights of reversion . . . must be exercised within forty years from the time at which the proprietor is allowed to redeem.Sc. 1896 W. K. Morton Manual 147:
If lands were not redeemed by a fixed date the right of reversion should expire.
