Meaning of amortize

am•or•tize

Pronunciation: (am'ur-tīz", u-môr'tīz), [key]
— -tized, -tiz•ing.
    1. to liquidate or extinguish (a mortgage, debt, or other obligation), esp. by periodic payments to the creditor or to a sinking fund.
    2. to write off a cost of (an asset) gradually.
  1. to convey to a corporation or church group; alienate in mortmain.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.
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