post-obit bond
- noun
- /ˈpoʊstˈoʊbɪt bɑnd/
- Formal
:
bono post-obit
- He took out a post-obit bond to secure a loan against his expected inheritance.
Examples
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A post-obit bond obligates repayment only after the death of a specified individual.
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Solicitors cautioned him about the risks involved in signing a post-obit bond.
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He issued a post-obit bond to secure his future.
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The post-obit bonds were sold at a premium.
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He took out a post-obit bond to secure a loan against his expected inheritance.
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Solicitors cautioned him about the risks involved in signing a post-obit bond.
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A post-obit bond obligates repayment only after the death of a specified individual.
Synonyms
564
4.4
A certificate promising to repay borrowed money with interest
Surface Forms
Morphology
post-obit + bond
The phrase is compositionally built from post-obit (literally 'after death') + bond (a debt instrument), so a learner who knows those elements can infer it refers to a bond connected with a death event. However 'post-obit' is specialised, Latin-derived legal jargon and the detailed sense—issued by someone entitled to a future inheritance and payable out of that inheritance—is technical and not fully predictable from the parts, making the expression only partially transparent.
Etymology
The noun post-obit bond comes from old legal words post and obit, which together mean 'after death'. It refers to a loan that someone agrees to repay only from an expected 'inheritance' when a named person dies, so the name reminds you the money is paid only 'after death'.