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Re: [PSUBS-MAILIST] Salvage Laws

Not specifically. Is it in territorial waters? If so, which insurance company paid off on it? It doesn't matter to whom. You can make a cash offer for the title, which the insurance company will be holding. George Kittredge bought a lobster boat like that--I don't remember what he paid, five hundred bucks, maybe. The boat was in a hundred feet of water in Maine. They salvaged it, overhauled it and sold it. Ultimately, I think everybody broke even, and were pretty lucky to get away without losing money. The point about buying the title from the insurer is that you'd own the boat outright. Salvage without the title might require the courts to mediate, and the boat is worth more money in the boatyard than it is on the seabed. If the boat is or was uninsured, then I'd speak to the Coast Guard. Someone would be able to steer you in the right direction for information on salvage claims.
Vance



-----Original Message-----
From: Brian Cox <ojaivalleybeefarm@dslextreme.com>
To: Personal_Submersibles@Psubs. Org <personal_submersibles@psubs.org>
Sent: Wed, Jul 15, 2009 7:06 pm
Subject: [PSUBS-MAILIST] Salvage Laws

Hi All,
         Does anyone know what the laws are concerning salvaging sunken
ships?  For instance a sailboat in 200' of water?

Brian




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