Amortize
Legal definition for Indian law research
Definition
amortize
-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
Definitions are for legal research. Always verify meaning in the context of the statute, judgment, or jurisdiction cited.