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post-obit bond

/ˈpəʊst ˈɒbɪt bɒnd/

1 entry

phrase

/ˈpəʊst ˈɒbɪt bɒnd/formallegalobsolete
  • ruИсторический финансовый инструмент, ныне в значительной степени устаревший, представляющий собой облигацию, выпущенную после смерти человека для покрытия налогов на наследство или долгов, обычно обеспеченную активами умершего.

A historical financial instrument, now largely obsolete, that was a bond issued after a person's death to cover estate taxes or debts, typically secured against the deceased's assets.

  1. Financial agreementC2formalbritish

    A legal bond or contract in which a borrower promises to repay a loan after the death of a specific person from whom they expect to inherit money or property.

    ruФинансовое соглашение

    • He signed a post-obit bond to secure a loan against his uncle's estate.
    • The lawyer explained the risks of a post-obit bond to the young heir.
    • Post-obit bonds were historically used by heirs expecting a large inheritance.