Forfeited Vessel Law and Legal Definition
According to 46 CFR 67.3 [Title 46 – Shipping; Chapter I -- Coast Guard, Department of Homeland Security; Subchapter G -- Documentation And Measurement of Vessels; Part 67 -- Documentation of Vessels; Subpart A – General], forfeited vessel means “a vessel:
(1) Which has been adjudged forfeited by a Federal District Court to the Federal Government of the United States for a breach of its laws; or
(2) Which has been forfeited under an administrative forfeiture action to the Federal Government of the United States for a breach of its laws; or
(3) Which has been seized by the Federal Government of the United States for a breach of its laws and which has been sold at an interlocutory sale, the proceeds of which have been adjudged forfeited by a Federal District Court to the Federal Government of the United States. A vessel is considered forfeited within the meaning of this definition even if the proceeds, though adjudged forfeited to the United States, do not actually accrue to the United States.”
