Property and Ownership

Introduction
This paper was developed to discuss the legal issues regarding property ownership, when the original owner has lost, misplaced, or abandoned that property. A particular focus will be to contrast the differences between the laws that regulate federal and private property.
The specific concern of this paper, will be the case of the salvaged TBD-1 Devastator, a rare Navy aircraft recovered 20 miles off the coast of Florida, in 500 feet of water, and estimated to have a value of one or two million dollars once restored.
The paper will begin with a definition of lost, misplaced, or…