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Ray, Lawyer
Category: Legal
Satisfied Customers: 42816
Experience:  30 years in civil, probate, real estate, elder law
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Thank you for the answer re salvage vehicle. Maybe I should

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Thank you for the answer re: salvage vehicle. Maybe I should elaborate a bit; it's an airplane and I do not intend to restore or sell it. I will have to recover the entire plane initially but I'm after a few parts only. I don't anticipate that a new title will be needed. I suppose that the correct question is... can I ensure my rights to it if I recover it? Insurance paid the original owner years ago. It does pose an environmental hazard if left where it is.
Federal salvage laws state a vessel must be considered abandoned for a period of 10 years before the legal owner gives up their rights to ownership. The insurance company of they paid off owned the vessel if it is sunk here in waters.Realistically if you have parts this is long forgotten in all probability.But there is risk that insurance company assert ownership if less than the ten years here.
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