Post Obit,
a bond given as security for the repayment of a sum of money to a lender on the death of some specified person, from whom the borrower has expectations. Such loans in almost every case carry high, if not usurious, rates of interest, and generally the borrower binds himself to pay a much larger sum than he receives, in consideration of the risk which the lender runs in case of the borrower dying before the person from whom he has expectations.
Entry from Everybody's Cyclopedia, 1912.