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jcocks | 06:24 Sat 08th Jun 2002 | History
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when a group of friends all decide to leave their assest to each other, and the last person alive gets the lot, what is this called?
  
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Inheritance.
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inheritance is not the answer i was looking for
A tontine is what it is called.
It is indeed a tontine. Or in some interpretations it can be called an Honourable Company. Im not sure that they are still legal. They were very popular amongst Victorian advenbturers but got a very bad name, being , basically, an incitement to murder.
It features in the novel by Robert Louis Stevenson, 'The Wrong Box'.
It also features in an episode of The Simpsons
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