to liquidate or extinguish (a mortgage, debt, or other obligation), especially by periodic payments to the creditor or to a sinking fund.
to write off a cost of (an asset) gradually.
Old English Law. to convey to a corporation or church group; alienate in mortmain.
(finance) to liquidate (a debt, mortgage, etc) by instalment payments or by periodic transfers to a sinking fund
to write off (a wasting asset) by annual transfers to a sinking fund
(property law) (formerly) to transfer (lands, etc) in mortmain
late 14c., from Old French amortiss-, present participle stem of amortir “deaden,” from Vulgar Latin *admortire “to extinguish,” from ad- “to” (see ad-) + mortus “dead,” from Latin mors “death” (see mortal (adj.)). Originally a legal term for an act of alienating lands. Meaning “extinguish a debt” (in form amortization) is attested from 1824. Related: Amortized; amortizing.
an act or instance of a debt or other obligation. the sums devoted to this purpose. Historical Examples No effort is made to levy tolls that will provide for interest charges, or for the amortization of the principal. The Panama Canal Frederic Jennings Haskin This amortization of the Republic’s debt for these improvements has been […]
Finance. to liquidate or extinguish (a mortgage, debt, or other obligation), especially by periodic payments to the creditor or to a sinking fund. to write off a cost of (an asset) gradually. Old English Law. to convey to a corporation or church group; alienate in mortmain. Historical Examples The fare just about amortized my travel […]
a male or female given name. Contemporary Examples Punch was named publisher and as his first act fired Amory Bradford. Trying Times at The New York Times Alex S. Jones September 30, 2012 Historical Examples It was as if he hesitated to call her Amory, and refused to call her Mrs. Pratt. Gray youth Oliver […]
a Minor Prophet of the 8th century b.c. a book of the Bible bearing his name. a male given name: from a Hebrew word meaning “burden.”. Contemporary Examples As a psychologist, he received the 2002 Nobel Prize in Economics for his work with Amos Tversky on decision making. Daniel Kahneman Talks Intuition and Optimism With […]