post-obit

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post-obit [pəʊstˈəʊbɪt -ˈɒbɪt] Chiefly law

(Economics, Accounting & Finance / Banking & Finance) Also called post-obit bond a bond given by a borrower, payable after the death of a specified person, esp one given to a moneylender by an expectant heir promising to repay when his interest falls into possession

adj

(Law) taking effect after death

[from Latin post obitum after death]

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