Exceptions to the Law of Finds

[diverdan1]

The United States passed the Abandoned Shipwrecked Act in 1987. That Act gives title of all shipwrecks within U.S. waters to the United States and not to the discoverer of the shipwreck. U.S. territorial waters extend at least three miles from the coast line. Further, if the remains of a United States or a foreign government’s ship are recovered then the law of finds does not apply since it is generally accepted that governments never abandon the search and recovery efforts for their own vessels.
It can be exciting and profitable to discover a previously hidden treasure under the sea. However, discoverers should be aware of their potential awards and their responsibilities when they uncover a shipwreck treasure.
he amount of the salvage award is based on several factors including:
· The degree of risk undertaken by the salvor;
· The difficulty of the rescue or recovery operation; and
· The value of the goods and / or vessel that are recovered.
Typically, the salvage award is approximately 10 -25% of the total value of property that the salvor recovers. However, in certain circumstances the percentage of the value awarded to the salvor may be as high as 50% of the total value of property recovered.

 

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[FreeBirdTim]

Bottom line, if you find treasure, keep your mouth shut. No way would I risk my neck, spend my money and work my butt off recovering treasure and then let the greedy government take 90% of the cut. Not right, not fair and not ethical.

 

[A2coins]

Grab that booty and scooty