Homer conveyed his home to his wife, Wanda, for life, remainder to his daughter, Dixie. There was a $20,000 mortgage on the home requiring monthly payments, each covering interest to date plus a portion of the principal. Which of the following statements about the monthly payment is correct?
Wanda must pay the full monthly payment. Wanda must pay a portion of the monthly payment based on an apportionment of the value between Wanda's life estate and Dixie's remainder. Wanda must pay the portion of the monthly payment which represents interest. Dixie must pay the full monthly payment
Question: Homer conveyed his home to his wife, Wanda, for life, remainder to his daughter, Dixie. There was a $20,000 mortgage on the home requiring monthly payments, each covering interest to date plus a portion of the principal. Which of the following statements about the monthly payment is correct?
A. Wanda must pay the full monthly payment.
B. Wanda must pay a portion of the monthly payment based on an apportionment of the value between Wanda's life estate and Dixie's remainder.
C. Wanda must pay the portion of the monthly payment which represents interest.
D. Dixie must pay the full monthly payment
Answer: