post obit bond

An agreement by which a borrower promises to pay to the lender a lump sum (exceeding the amount advanced) upon the death of a person whose property the borrower expects to inherit.

• Equity traditionally enforces such bonds only if the terms are just and reasonable.

— Also termed post-obit agreement.

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词条贡献者

法律翻译Howard，在一家顶尖的美国律师事务所担任专职法律翻译，专注翻译各类与信托与财产规划有关的法律文件。