(A) A person who comes into possession of an abandoned, junked, adrift, destroyed, or salvaged watercraft or outboard motor shall notify the department in writing of possession within ten days of acquiring possession. No person in possession may acquire any right of ownership or sell a watercraft or outboard motor under this chapter without first obtaining a title. If a security interest has been perfected, the person in possession shall notify the lienholder by certified mail, return receipt requested, giving thirty days for response. The person in possession who lays claim to a watercraft or outboard motor is required to submit an affidavit to the department setting forth the circumstances under which he came into possession of the watercraft or outboard motor and such information as the department requires. An owner who abandons or junks a watercraft or outboard motor, either on the land or waters of the State, shall notify the department immediately in writing and deliver to it any title or, if the title is lost or destroyed, a sworn statement of that fact within ten days of the abandonment. A person in possession of an abandoned or junked watercraft or outboard motor:

1. (1) whose owner of record has complied with this subsection may make application to the department on forms prescribed by the department for titles and transfer of ownership and after satisfying any security interest, if any, and proof of payment of taxes a title must be issued to the person;
2. (2) whose owner of record has not complied with this subsection shall contact the owner to get proper titles, duplicate title application, and bills of sale as necessary to transfer ownership after satisfying any security interest. The person in possession shall make application to the department within twenty days with appropriate documents;
3. (3) whose owner failed to comply with this subsection and cannot be located shall send a certified letter, return receipt requested, to the owner's last known address, and advertise three times, seven days apart, in a newspaper of local circulation in the county where the watercraft or outboard motor was found giving a description including the make, model, length or horsepower, and year. The application for title must be accompanied by the newspaper certification of the advertisement and the dates printed, copies of the advertisement, and certified letter;
4. (4) who does not desire to sell or obtain ownership may forfeit the watercraft or outboard motor to the department which may sell it at any department public auction or destroy it after every reasonable effort to locate the owner.

(B) A person finding a watercraft or outboard motor submerged, a watercraft, or watercraft with an outboard motor that is adrift on the waters of the State or one that has drifted onto land, and salvages the watercraft or outboard motor from the waters of the State, shall comply with subsection (A) to determine the owner giving the serial number, make, year, model, length or horsepower, or hull identification number, serial number, or registration number.

1. (1) If the owner of record is located, the person in possession of the watercraft or outboard motor shall notify the owner by certified mail, return receipt requested, advising of the reasonable cost of securing, storage, or salvage, and the time limit for response from the date received or presented. Any person who secures, stores, or salvages a watercraft or outboard motor shall acquire a lien against the watercraft or outboard motor senior to an existing lienholder. However, this does not apply to the department for a violation of this chapter. If the owner does not respond, the person in possession may apply for a duplicate title on a form provided by the department with his lien shown and advertise the watercraft or outboard motor for sale at public auction three times, seven days apart, in a paper of local circulation giving the make, year, model, length, or horsepower. The seller shall deduct his reasonable expenses and, after the satisfaction of any other lien, pay any proceeds to the owner upon application.
2. (2) If the person in possession of the watercraft or outboard motor desires the watercraft or outboard motor for personal use he shall notify the owner of record and all lienholders by certified mail, return receipt requested, with a time of response of thirty days from receipt of the letter. If the owner does not respond, the person in possession may make application on a form prescribed by the department. A title obtained pursuant to this subparagraph is subject to any lien of record previously listed on the watercraft or motor.