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.
POST-OBIT BOND
Meaning of POST-OBIT BOND in English
Webster's Revised Unabridged English Dictionary. Пересмотренный полный словарь английского языка Webster. 2012