Conclusion

Finding a long-lost shipwreck is the beginning of a legal adventure for the finder, thanks to the uncertainty of the law and potentially numerous claimants who may come forward to contest the finder’s claim.  Caution and preparation go a long way to minimize the risks and pitfalls inherent in the law as currently structured.  However, two things remain constant.  First, a salvor must heed the call to protect the historical and archaeological value of a wreck in order to maximize its financial gain from the wreck’s recovery.  Second, time is of the essence in the race to beat competitors to the federal courthouse; the time for a salvor to get its legal case in order is before it finds the wreck so that whatever rights it may obtain in a wreck can be secured as soon after the find as possible.

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