The word for today is…
amortize (verb) -
1: to pay off (an obligation, such as a mortgage) gradually usually by periodic payments of principal and interest or by payments to a sinking fund
2: to gradually reduce or write off the cost or value of (something, such as an asset)
Source : Merriam-Webster
Etymology : When you amortize a loan, you figuratively “kill it off” by paying it down in installments, an idea reflected in the etymology of amortize. The word comes ultimately from a Latin word meaning “to kill” that was formed in part from the Latin noun mors, meaning “death”; it is related both to murder and a word naming a kind of loan that is usually amortized: mortgage. The original use of amortize dates to the 14th century, when amortizing was about transferring ownership of a property to a corporation, and especially to an ecclesiastical corporation—that is, a corporation consisting wholly of clergy. Such land was said to be in mortmain, which under the feudal system meant that the property was permanently exempt from a lord’s usual payment collections. Mortmain is of course another mors word. Its second syllable comes from Latin manus, meaning “hand,” the implication being that the property was held in the dead hand of a corporation—a hand incapable of paying out.
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