Possessed, we nod wildly (5)
I believe the answer is:
owned
'possessed' is the definition.
('own' can be a synonym of 'possess')
'we nod wildly' is the wordplay.
'wildly' indicates an anagram.
'we'+'nod'='wenod'
'wenod' is an anagram of 'OWNED'.
(Other definitions for owned that I've seen before include "Possessed; admitted" , "fully paid off?" , "made a confession" , "Had lawful title to" , "to oneself?" .)