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Tontine
(2 syl.). A legacy left among several persons in such a way
that as anyone dies his share goes to the survivors, till the last
survivor inherits all. So named from Lorenzo Tonti, a Neapolitan, who
introduced the system into France in 1653.
Source: Dictionary of Phrase and Fable, E. Cobham Brewer, 1894 More on Tontine from Infoplease:
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