Salvage Lein

[Pete7]

Matt, do come back to us and let us know how it works out.

More importantly is the boat and to stop it deteriorating. Have you got it dry inside? was it fresh or saltwater?

Pete

[Matt sachs]

Originally Posted by Pete7

Matt, do come back to us and let us know how it works out.

More importantly is the boat and to stop it deteriorating. Have you got it dry inside? was it fresh or saltwater?

Pete

Yes the bilge dry. It sank in fresh water. The boat is now reqistered in my name and I have it in my possession.

[capt_douglas]

Originally Posted by rebel heart

Admiralty law and salvage rights are two things I hope to evade in my nautical career.

I took courses in Admiralty Law and salvage rights - and I agree 100%. I've got to carry a Lloyds Open Form but hope I never have to use it.

[capngeo]

Originally Posted by capt_douglas

I took courses in Admiralty Law and salvage rights - and I agree 100%. I've got to carry a Lloyds Open Form but hope I never have to use it.

In some cases, a "no cure, no pay" (such as LOF) can work out very fair to all concerned... BUT a few words of caution:

The advantage is that salvage is not held up by negotiating a contract, and the salvage award is determined by a "neutral" arbitrator. The value of the vessel (as well as cargo) and the difficulty of the salvage are all weighed. Good for an owner/insurance co, in that "soft" groundings and the like are not charged crazy rates.... Some of the assistance towing companies will charge $100/ft for a soft grounding that might involve 20 minutes' work! It is also good for a salvor, in that the job becomes "his" and competitors or other contractors now have to work through him. As mentioned earlier, there is no pay if there is no cure, and awards are based on the salvor's performance... a great motivator for the salvor to complete the salvage efficiently and promptly. If a "Time and Materials" contract is entered, it is in the interest of the salvor to drag his feet, to run up the clock.

The disadvantage is that LOF is not widely understood in the world of small vessels, in that it is a product of Lloyd's and is entirely under British Maritime Law. Vessels NOT insured through Lloyd's or a subsidiary might not be able to use the LOF, and should consult their insurer to confirm coverage AND contractual obligations; it is not uncommon for a small vessel owner to be forced to pay a salvor out of pocket and then seek reimbursement... often at a reduced amount than the actual bill!

[GordMay]

Originally Posted by capngeo

In some cases, a "no cure, no pay" (such as LOF) can work out very fair to all concerned... BUT a few words of caution...

The Lloyds Open Form (LOF) No-Cure-No-Pay salvage contract
➥ http://www.americansalvage.org/contr..._Open_Form.pdf

But, see also
➥ Salvage contracts -The Lloyd's Open Form - No-Cure-No-Pay or fixed price contract

[Pblais]

Matt,

If you have the boat registered then you certainly have the title or a screwed up registration. In any case if you have the title and are happy to have the then you might want to start posting in some of the other sections about getting the boat cleaned for some fun. It still has a lot of work left to complete. The fresh water advantage is perhaps the biggest thing in your favor. Drying it out and preventing mold / mildew would be urgent.

[Matt sachs]

Originally Posted by Pblais

Matt,

If you have the boat registered then you certainly have the title or a screwed up registration. In any case if you have the title and are happy to have the then you might want to start posting in some of the other sections about getting the boat cleaned for some fun. It still has a lot of work left to complete. The fresh water advantage is perhaps the biggest thing in your favor. Drying it out and preventing mold / mildew would be urgent.

I have had fans running inside for a month, just in case I got to keep her.
"Dusty" would best describe the inside, with a spattering of dried minnows. One of the lift bags put a crack in the deck, that has since been repaired.
Thanks for all the advice.

[rgscpat]

FWIW, the closest I've heard of to this situation is the much simpler case in which people don't pay their slip fees or dry storage rental payments. The way it works in our state is that the marina or lot owner sends (registered or certified) notifications and immobilizes the boat. Then, after a certain period of time with no response, the marina or lot owner can get title to the boat from the motor vehicle department.

[hellosailor]

"their slip fees or dry storage rental payments."
Under typical US state laws, that would be addressed by a "storage lien" or "warehouseman's lien". Same as a mechanic's lien, it can be used to attach property and typically to attach titled property (cars & boats) and force title assignment. The details will vary from state to state.