Are You a Legal Professional?

FINDLAW LEGAL DICTIONARY

The FindLaw Legal Dictionary -- free access to over 8260 definitions of legal terms. Search for a definition or browse our legal glossaries.

Amortize

amortize vt

-tized
-tiz·ing
: to reduce (an amount) gradually: as
a : to pay off (as a loan) gradually usually by periodic payments of principal and interest or payments to a sinking fund
b : to gradually reduce the cost of (as an asset) esp. for tax purposes by making periodic charges to income over a time span [ the machinery over five years] see also depreciation compare capitalize , deduct
amor·ti·za·ble adj

amor·ti·za·tion [a-mər-tə-zā-shən, ə-mȯr-]
n



Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.