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post-obit bond

Variant of post-obit

adjective

being, or to be, in effect after a specified person's death

noun

a bond given by a borrower pledging to pay a debt upon the death of a specified person from whom the borrower expects to inherit money

Webster's New World College Dictionary Copyright © 2010 by Wiley Publishing, Inc., Cleveland, Ohio. Used by arrangement with John Wiley & Sons, Inc.

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