Pronunciation: (am'ur-tīz", u-môr'tīz),[key] —v.t.,-tized, -tiz•ing. 1. Finance. 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".