"To make insurance policies legal and valid, the insured must possess such an interest in the subject of the insurance as may be sufficient to involve him in a monetary loss, should the subject be damaged or destroyed." In other words, if he has a direct monetary interest in the property to be insured, he has insurable interest. This interest may be of various character; it may be that of an owner, of a lessee, of a guardian, a bailee, an executor, administrator, bailiff or sheriff, a creditor. As long as there is a real monetary interest, there is an insurable interest.