[MHml] Salvage Rules

[Bill Gibbs]

Salvage kicks in when an owner is not working to secure and recover the
boat, and the salvor is not working under contract for the task at hand.  So
if you find a sunk boat you can salvage it, which involves rescuing it, then
reaching financial settlement with the owner or insurer as the case may be.
Usually a percentage of boat value, Low Salvage rates involve little risk to
the salvor, and High Salvage rates involved high risk to the salvor.  A
salvor may not deny an owner access to his own property but may place a lien
on the vessel if a settlement is not forthcoming.  There are all sorts of
details you can read about online.
 
Take Vessel Assist for example.  When my pusher boat broke, I called them to
tow it in.  Since it had broken up and become wreakage, it was no longer
covered by my towing insurance contract, and it became salvage.  But the
towing guy didn't know there was a big outboard hanging under the wreaked
hulls, so he tied it up to a boat yard dock and asked the yard to dispose of
it at my cost.  They found the motor and tried to sell it, which came as
quite a surprise to me when it got back to me, since Vessel Assist had
reported it as gone.  The boatyard had not been the salvor and had no rights
to my motor, which I explained to them leading to my picking it up today.
 
Bill
Afterburner
 
 

  _____  

From: multihulls-bounces at steamradio.com
[mailto:multihulls-bounces at steamradio.com] On Behalf Of John Andrew Metza
Sent: Monday, August 17, 2009 2:53 PM
To: Informed discussion of multihull issues
Subject: [MHml] Salvage Rules


Hi,
What are the rules for salvage of boats that sink in harbors or rivers in
FLA after a hurricane?
jam
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