How did RMS Titanic, Inc. (RMST) gain salvor-in-possession rights to the Titanic?
RMST, in compliance with admiralty law, recovered objects from the wreck site in 1993 and brought them into an admiralty court in Norfolk Virginia. RMST went through the legal process of arresting the Ship and gave public notice that it intended to become salvor-in-possession and further invited any entity with a claim to come into the federal court and challenge their rights in achieving their goal. A representative from over seven hundred insurance companies filed a claim, which was ultimately settled. On June 7, 1994 the United States District Court for the Eastern District of Virginia declared RMST salvor-in-possession of the wreck and wreck site of the RMS Titanic, excluding all others from going to the site for the purpose of recovery. RMST is the only entity that has recovered and conserved items from the Titanic.
Under admiralty law, the owner of a ship retains rights to its wreck, unless the owner abandons it or an unusually long period of time has passed since the vessel sank. In those situations (as was the case with the Titanic) an admiralty court can name another party “salvor in possession” of the wreck if that party lays claim to it by recovering objects from the site. To maintain its exclusive rights to the wreck, the salvor-in-possession must continue to actively work the wreck site. RMST is the only entity that has recovered and conserved items from the Titanic. Therefore, pursuant to a judgment entered in the Federal District Court for the Eastern District of Virginia on June 7, 1994, RMST was declared salvor-in-possession of the wreck and wreck site of the RMS Titanic, sole and exclusive owner of any items recovered from the wreck and, so long as the Company is salvor-in-possession, sole and exclusive owner of items recovered from the Titanic in the future. The court s judgment incl
