From The Collaborative International Dictionary of English v.0.48 [gcide]:
Post-obit \Post-o"bit\, noun, or Post-obit bond \Post-o"bit bond'\ . [Pref. post- + obit.] (Law) 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.
From WordNet (r) 3.0 (2006) [wn]:
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