Opinion
April 24, 1992
Appeal from the Supreme Court, Niagara County, Notaro, J.
Present — Denman, P.J., Boomer, Boehm, Fallon and Davis, JJ.
Judgment unanimously affirmed with costs. Memorandum: Supreme Court correctly held that the executory land contract did not affect plaintiff's insurable interest or the amount recoverable under the fire insurance policy (see, Insurance Law § 3402). The insurable interest of the vendor in a land contract is the full value of the insured property (Rosenbloom v Maryland Ins. Co., 258 App. Div. 14; see also, First Fed. Sav. Loan Assn. v Nichols, 33 A.D.2d 259). That the land contract placed the risk of loss on the vendee does not eliminate such interest (see, Meade v North Country Co-Op. Ins. Co., 120 A.D.2d 834, 836-837). Defendant improperly relies on case law involving mortgagees' rights under fire insurance policies (e.g., Whitestone Sav. Loan Assn. v Allstate Ins. Co., 28 N.Y.2d 332; Heilbrunn v German Alliance Ins. Co., 150 App. Div. 670, appeal dismissed 206 N.Y. 683).