A bond given by an expectant, to become due on the death of a person from whom he will have property. A bond or agreement given by a borrower of money, by which he undertakes to pay a larger sum, exceeding the legal rate of inter- est, on or after the death of a person from whom he has expectations, in case of surviving him. Crawford v. Russell, C2 Barb. (N. Y.) 92; Boynton v. Ilubbard, 7 Mass. 119.
Link to This DefinitionDid you find this definition of POST OBIT BOND helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary