Definition of: amortize

(am′ər·tīz, ə·môr′tīz) v.t. ·tized, ·tiz·ing
1. To extinguish, as a debt or liability, by payments to a sinking fund or creditor.
2. Law To sell and convey, as land, to a corporation having perpetual succession; alienate in mortmain. Also Brit. am′or·tise. [<OF amortiss-, stem of amortir extinguish, sell in mortmain < L ad- to + mors, mortis death]
—am·or·tiz·a·ble (am′ər·tīz′ə·bəl, a·môr′tiz·bəl) adjective