Definitions for: Amortization

[n] payment of an obligation in a series of installments or transfers
[n] the reduction of the value of an asset by prorating its cost over a period of years

Webster (1913) Definition: A*mor`ti*za"tion, n. [LL. amortisatio,
admortizatio. See Amortize, and cf. Admortization.]
1. (Law) The act or right of alienating lands to a
corporation, which was considered formerly as transferring
them to dead hands, or in mortmain.

2. The extinction of a debt, usually by means of a sinking
fund; also, the money thus paid. --Simmonds.

Synonyms: amortisation

See Also: decrease, defrayal, defrayment, diminution, payment, reduction, step-down

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