Pronunciation: (am'ur-tīz", u-môr'tīz), [key]
—v.t., -tized, -tiz•ing.
a. to liquidate or extinguish (a mortgage, debt, or other obligation), esp. by periodic payments to the creditor or to a sinking fund.
b. to write off a cost of (an asset) gradually.
2. Old Eng. Law.to convey to a corporation or church group; alienate in mortmain. Also, esp. Brit.,am'or•tise".
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.