Is ownership lost if a ship sinks to the bottom of the ocean?
#25276. Asked by Bennett. (Dec 17 02 4:29 PM)
No, although the owner has certain obligations within 30 days otherwise it may be considered 'abandoned'. If an insurance company pays out, they become the owners. It's a complex area and you need to check the regulations for a definitive answer
Dec 17 02, 4:54 PM
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