Not a asset or Laibility, is a expenses

neither asset nor liability, its an expense

it is neither an Asset or liability, it is a non trading 
expense

Depreciation is a non-cash expense. So, it is added back 
when calculating cash flow. When an asset depreciates fully 
then from every years depreciated amount new assets can be 
purchased.

Depreciation is neither asset nor liability. it's just a 
charge against profits, which in long run is used to 
purchase a new asset.
Depreciation means allocation of depreciable amount of an 
asset over its estimates working life.

If you want to ask about Acumulated Depreciation than it is 
a contra-Asset :) Most of the people think it as a liability

depriciation is neighter assets and liability it is non 
trading ex.