Re: A Spanish ship, carrying 'treasure' from Spain’s then colonies in South America,

[Ghost Dog]

11. Yes, exactly (from one perspective), thanks.

I quote from your source:

... The process is more Law and Order than Pirates of the Caribbean.

A key question is whether the discovery of goods is deemed salvage or treasure-hunting.

Salvage refers to when someone saves property drifting, lost or abandoned at sea. Under international conventions, the "salvor" is required to return the found goods to the original owner in return for a reward.

Treasure hunting typically means exploration aimed at unearthing antiquities and other valuables from shipwrecks for financial gain.

"Treasure hunting is not necessarily salvage, because salvage is the right to be compensated by the owner where the owner is known and you're in a position to return the property to him," said William Moreira, a Halifax lawyer and former president of the Canadian Maritime Law Association.

"Typically in treasure-hunting cases, that's not so, just because the stuff's been lost for so long that no owner could come forward."..

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In this case the original owner is clear, is it not? The salvagers should therefore negotiate with the owners, or not?