Amortization
Pronunciation : A*mor`ti*za"tion
Part of Speech : n.
Etymology : [LL. amortisatio, admortizatio. See Amortize, and cf. Admortization.]
Definition : 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.
Source : Webster's Unabridged Dictionary, 1913