Ordered that the order is reversed, on the law, with costs, the motion is denied, the cross motion is granted, and the complaint is dismissed.
Under the terms of the parties' contract of sale the risk of loss in the event of a fire was governed by General Obligations Law § 5-1311. Pursuant to this provision, "when legal title or possession has been transferred to the purchaser he is not relieved by destruction of all or any part of the property from his obligation...
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