'Post-obit bond' definitions:
Definition of 'post-obit bond'
(from WordNet)
noun
A bond made by a reversioner to secure a loan; payable out of his reversion
Definition of 'Post-obit bond'
From: GCIDE
- Post-obit \Post-o"bit\, n., 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. [1913 Webster]