What happens if you find sunken treasure?

If you discover a struggling or submerged ship or other property on the sea, and salvage it, you become the “salvor.” Meaning, you’re legally responsible for returning the ship or other property to its rightful owner, and the owner is legally responsible for fairly compensating you for your actions.

Are you allowed to keep sunken treasure?

A country may claim ownership of a wreck if it owned the ship in the first place. Even if a vessel was sunk and abandoned for hundreds of years the original owner can still claim ownership rights. However, ownership can be complicated by the location of the wreck if it lies in the territorial waters of another state.

Did Mel Fisher keep the treasure?

Mel Fisher, a former chicken farmer who became a Horatio Alger figure among undersea treasure hunters, died on Saturday at his home in Key West, Fla. Eventually his son Kane located the underwater bounty in 1985, and treasure worth roughly $400 million was recovered.

Is there still treasure in the ocean?

With nearly three-quarters of the planet covered in water, what lies beneath the surface hides more than undiscovered marine species — it also holds treasures lost at sea. Although there are many known — and unknown — treasures still lost, we examine some of the greatest underwater treasures ever found.

What happens if you find treasure on public land?

In California, there is a law mandating that any found property valued over $100 be turned over to police. Authorities must then wait 90 days, advertise the lost property for a week, and finally release it to the person who found it if no one could prove ownership.

What is the richest treasure ever found?

BLACK SWAN PROJECT. The Black Swan project was a 2007 salvage operation that saw the discovery of more than $500 million, or £3.6 million worth of bullion. At the time, it was the most valuable treasure trove that had ever been found.