amortize

 
Pronunciation: /əˈmɔːtʌɪz/
(also amortise)

verb

[with object]
  • gradually write off the initial cost of (an asset) over a period: the vessel’s owners could not amortize her high capital costs
  • reduce or pay off (a debt) with regular payments: eighty per cent of the proceeds has been used to amortize the public debt
  • historical transfer (land) to a corporation in mortmain: lands amortized without licence

Derivatives

amortization

Pronunciation: /-ˈzeɪʃ(ə)n/
noun

Origin:

late Middle English (in the senses 'deaden' and 'transfer (land) to a corporation in mortmain'): from Old French amortiss-, lengthened stem of amortir, based on Latin ad 'to, at' + mors, mort- 'death'