What is the Admiralty Law relating to marine salvage?

Admiralty law relating to marine salvage is a set of laws that pertain to the recovery of lost or abandoned property on sea or navigable waters. In North Carolina, it is found under Chapter 44A of the North Carolina General Statutes. Maritime salvage is a legal term which applies to activities related to the retrieval, repair, or protection of goods or vessels that are in danger of being lost at sea. The primary purpose of the law is to protect both vessel owners and salvors (those who rescue property in peril at sea) and ensure that shipwrecks and other property are salvaged in a safe and timely manner. The law requires that the salvors report the salvage and then put the salvaged property in the custody of the court. The court will then assess the value of the salvaged property and the salvors will be paid according to the percentage of the value that they are entitled to. The court may also award the salvors reasonable costs of salvage including wages paid, fuel, materials, and other supplies used in the salvage process. Additionally, the court may award the salvors additional compensation when the salvage is exceptionally well done. The law also provides for the possibility of liens on the salvaged property if the property is not sold or claimed by its owner. The lien allows the salvors to receive compensation for their services and protects them in the event that the salvage is not paid for. The court may also grant an injunction or restraining order to prevent the sale or destruction of the salvaged property until the court has ruled on the dispute. Overall, the admiralty law relating to marine salvage establishes rules and regulations to protect both salvors and vessel owners while ensuring that shipwrecks and other property are recovered in a safe and timely manner.

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What is the Admiralty Law relating to marine salvage?

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