In Girard Ins. Co. v. John W. Taylor, 6 AD2d 359, the issue concerned a deed where the grantor retained rights involving property located on the premises conveyed until a given date "on which date all right to remove or demolish same shall cease and terminate'" (id. p. 360). In resolving liability after a fire destroyed this building, the Court concluded that "The interest of the insured' being that of owner, the measure of her loss is, under the policies, the actual cash value of the property, not exceeding the cost of repair" (id. p. 362).