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Found 1 definition: post-obit bond.

post-obit bond top

Pos: Noun Phrase
[WORDNET DICTIONARY]

Noun post-obit bond has 1 senses

   post-obit bond(n = noun.possession) - a bond made by a reversioner to secure a loan; payable out of his reversion;
is a kind of
bond, bond certificate


[CIDE DICTIONARY]

post-obit bond, n. [Pref. post- + obit.].

   A bond in which the obligor, in consideration of having received a certain sum of money, binds himself to pay a larger sum, on unusual interest, on the death of some specified individual from whom he has expectations. Bouvier. [1913 Webster]


[RELATED WORDS]

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