Marine Salvage Law
Under U.S. marine salvage laws, rescuing a boat floundering at sea or discovering a sunken vessel overflowing with treasure provides benefits to the person, boat or crew providing aid or recovery efforts. A voluntary act that results in the safety of property at sea qualifies as an act of salvage.
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Salvage Act of 1912
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Salvage concepts from the Byzantine Empire were ratified in 1913 by the United States with the adoption of the International Salvage Convention of 1910. The Salvage Act of 1912 complements the 1910 convention findings; law fundamentals state that a person at sea who aids or rescues property at sea is entitled to a reward.
Law Requirements
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To qualify for this reward, the property rescued must be at risk or in serious jeopardy without help or rescue; the salvor provides voluntary assistance, and the salvage must be successful. If the property is abandoned, anyone can salvage the property. "Almost any voluntary act which contributes to its (a vessel's) ultimate safety or rescue may qualify as an act of salvage," cites the Maritime Legal Resources website.
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Two Salvage Contracts
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Pure and contract salvage constitute the two types of salvage. The first occurs under extreme circumstances, when a vessel is in danger; the second is a contract between an owner and a salvage crew after the peril or distress has ceased. Salvage agreements in extreme circumstances cannot be extortionary in nature; otherwise, all or part of the salvage can be forfeited under law.
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References
- Photo Credit sunken boat image by Keith Nolan from Fotolia.com
