Category:Amortization

A*mor`ti*za"tion, n. Etym: [LL. amortisatio, admortizatio. See Amortize, and cf. Admortization.]

1. (Law)

Defn: 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.