Entry 3 senses Webster, 1913 Amortize /ăm'-ẽrt-īzˌ/ · A·mor·tize · IPA /ˈæmɚtaɪz/ 01 v. t. To make as if dead; to destroy. 1. To make as if dead; to destroy.[Obs.] 2. To alienate in mortmain, that is, to convey to a corporation. See Mortmain.(Law) See: Mortmain 3. To clear off or extinguish, as a debt, usually by means of a sinking fund.