What is the difference between salvage and the law of finds?
A salvor obtains a right to possess the property but not the right of ownership. A salvor holds the saved property for the benefit of the rightful owner and may do so until she is compensated, and if not duly compensated, may enforce her interest in court. However, if the law of "finds" applies, then the finder actually obtains possession and ownership of the property. In the case of a "find" the court does not have to set a value because by definition the finder takes title to the property free and clear of all other claims. The law of "finds" is often employed where a discovered ship has been submerged under the sea and beyond the reach of its original owners (who gave up on recovering the vessel) for many years. Remember the rule, "finders keepers losers weepers".
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