Legal complexities surrounding the ownership of valuable treasures and shipwrecks
TLDR The legal ownership of valuable treasures and shipwrecks is a complex issue, with different countries and jurisdictions having varying laws and regulations. This often leads to lengthy legal battles and disputes over ownership, especially when it comes to undersea treasure finds and shipwrecks.
Timestamped Summary
00:00
John and Mary, an anonymous couple from Northern California, found $10 million worth of rare gold coins buried on their property, known as the Saddle Ridge Horde, and took their time to come forward with the discovery.
04:51
John and Mary, the couple who found the gold coins on their property, have a strong claim to the treasure because it was found on their land and is considered old and valuable.
09:59
The UK has a "finders keepers" law, but it only applies to contemporary property, not valuable or antique items with cultural significance, which now belong to the crown and are compensated at market value.
14:55
In the UK, there is no distinction between treasure and archaeological artifacts when it comes to found property, while in the US, there is a distinction between archaeological artifacts and treasure; in the US, contemporary property is divided into three subcategories: lost, abandoned, and mislaid property, and whether the finder gets to keep it depends on the status of the property and the jurisdiction.
19:49
If someone misplaces property with the intent to do something with it but forgets or gets called away, it is considered mislaid property and is supposed to be guarded by whoever owns the property; however, in a case in Arizona, the people who bought the house and found half a million dollars hidden in the walls fought the deceased man's daughters for ownership, invoking the "finders keepers" rule.
24:12
A public defender in Georgia found a diamond ring worth $10,000 at Target and kept it, but got in trouble when the person who lost the ring reported it and surveillance footage showed the public defender pocketing it.
29:03
This section of the podcast is not relevant to the main topic and contains ads for various products and services.
34:04
Undersea treasure finds, such as the wreck of the San Jose, often result in lengthy legal battles between different parties, including countries like Spain, Colombia, and Peru, due to the immense value of the treasures and the lack of clear rules and international agreements regarding ownership.
38:55
The legal ownership of shipwrecks is complicated, with different countries claiming ownership based on territorial waters and international waters, and the United States having its own laws regarding shipwrecks within its waters.
43:43
A man is in jail in Ohio for refusing to disclose the whereabouts of 500 gold coins from a shipwreck that he claims to have given to someone in Belize but cannot remember who.
Categories:
Society & Culture