AMORTIZATION

AMORTIZA'TION or AMORT'IZEMENT, noun The act or right of alienating lands or tenements to a corporation, which was considered formerly as transferring them to dead hands, as such alienations were mostly made to religious houses for superstitious uses.

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A‐mor′ti‐za″tion (�), n. [[LL. amortisatio, admortizatio. See Amortize, and cf. Admortization.]] 1. 1. (Law) The act or right of alienating lands to a corporation, which was considered formerly as transferring them to dead hands, or in mortmain.
2. 2. The extinction of a debt, usually by means of a sinking fund; also, the money thus paid. Simmonds.