post-obit definition

  • noun:
    • 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.
    • See Post-obit.
    • A bond given for the true purpose of securing to a lender a sum of cash regarding the death of some specific person from who the borrower has objectives: occasionally utilized attributively: because, a post-obit bond.
    • Same as post-mortem.
  • others:
    • A bond where the obligor, in consideration of having gotten a particular sum of money, binds himself to cover a bigger amount, on unusual interest, from the loss of some certain individual from who he has expectations.

Related Sources

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