amortize legal definition

verb

1. To gradually extinguish a debt in advance of its maturity, usually by paying regular installments in excess of the accrued interest each time a periodic interest payment is due. See also sinking fund.
2. To arrange to gradually extinguish a debt.
3. To apportion the initial cost of an intangible asset each year over the course of the assetÂ’s useful life until the entire cost has been used up.