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Tontine
(redirected from tontines)

   Also found in: Dictionary/thesaurus, Legal, Wikipedia 0.01 sec.
Tontine
Describing any investment jointly held by two or more persons in which, when one investor dies, his/her share is reapportioned among the surviving investors. For example, if there are three persons who own a tontine company equally, and one of them dies, the surviving partners then divide the company 50-50. See also: Last survivor annuity.


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For a host of reasons including murder--most countries that employed tontines had banned them by the late 18th century.
 
 
 
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