Albert received a life estate in property, but the property had a mortgage against it. Which statement is TRUE regarding this situation?
A. Mortgage payments are the responsibility of the remainder interest holder.
B. The mortgage nullifies the life estate.
C. The life tenant pays the interest, but the remainder interest pays the principal.
D. The mortgage payment is split evenly between life tenant and remainder holder.
Answer: C. The life tenant pays the interest, but the remainder interest pays the principal.
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