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New York Consolidated Laws

N.Y. Insurance Law § 3402 (2026)

Executory contract not a change in interest, title or possession

✓ text as retrieved May 2026 (this copy records no edition or section history)
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§ 3402. Executory contract not a change in interest, title or
possession. The making of a contract to sell or to exchange real
property shall not constitute a change in the interest, title or
possession, within the meaning of the applicable provisions of any
contract of fire insurance, including any contract supplemental thereto,
covering property located in this state.
Notes of Decisions
Cited in 1 case, 1992–1992 · leading case: Johnson v. New York Mut. Underwriters Ins., 182 A.D.2d 1070 (N.Y. App. Div. 4th Dep't 1992).
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Johnson v. New York Mut. Underwriters Ins., 182 A.D.2d 1070 (N.Y. App. Div. 4th Dep't 1992). “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…”
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