ADMIRALTY LAW APPEALS COURT RULES SALVORS DON’T OWN WRECKS
The U.S. Court of Appeals for the Fourth Circuit has ruled that by saving property at sea, salvors do not become the property’s owner. Instead, they save the property for the owner and become entitled to a reward from the owner.
The appellate panel also said courts, at their discretion, may award the title of saved property to an ocean salvor.
The court of appeals ruled that the salvor of the 'RMS Titanic' is limited to salvage rights, and cannot become the owner of that wreck or of any related artifacts. The 'Titanic’s' salvor-in-possession had argued that it had absolute title to all artifacts recovered.