post-obit bond

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Definitions from WordNet

Noun post-obit bond has 1 sense

post-obit bond - a bond made by a reversioner to secure a loan; payable out of his reversion
--₁ is a kind of bond, bond certificate

Definitions from the Web

Post-Obit Bond

Description: A post-obit bond is a financial instrument that is issued with the condition that it will only be repaid upon the death of the issuer.

Senses:

Noun (Finance) - A bond that becomes payable upon the death of the bondholder.
Noun (Historical) - An obsolete form of debt instrument where the borrower pledges future inheritance as collateral.

Sample Sentences:

He invested in a post-obit bond, which would provide financial security to his beneficiaries upon his passing.
Post-obit bonds were once common among the aristocracy as a means to gain immediate financial assistance against future inheritances.

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