Payment of an obligation in a series of installments or transfers

• The reduction of the value of an asset by prorating its cost over a period of years

Wikipedia Word definitions in Wikipedia
In tax law , amortization refers to the cost recovery system for intangible property . Although the theory behind cost recovery deductions of amortization is to deduct from basis in a systematic manner over an asset's estimated useful economic life so as ...

The Collaborative International Dictionary Word definitions in The Collaborative International Dictionary
Amortization \A*mor`ti*za"tion\, n. [LL. amortisatio, admortizatio. See Amortize , and cf. Admortization .] (Law) The act or right of alienating lands to a corporation, which was considered formerly as transferring them to dead hands, or in mortmain. The ...

Douglas Harper's Etymology Dictionary Word definitions in Douglas Harper's Etymology Dictionary
1670s, in reference to lands given to religious orders, from Medieval Latin amortizationem (nominative amortizatio ), noun of action from past participle stem of amortizare (see amortize ). Of debts, from 1824.

Wiktionary Word definitions in Wiktionary
alt. 1 The reduction of loan principal over a series of payments. 2 The distribution of the cost of an intangible asset, such as an intellectual property right, over the projected useful life of the asset. n. 1 The reduction of loan principal over a series ...

WordNet Word definitions in WordNet
n. the reduction of the value of an asset by prorating its cost over a period of years [syn: amortisation ] payment of an obligation in a series of installments or transfers [syn: amortisation ]