Legal Definitions - Salvage

Definition: Salvage means rescuing or saving property or goods that are in danger of being lost or damaged. For example, saving a building from a fire or rescuing a ship and its cargo from sinking.

Salvage can also refer to a monetary compensation given to someone who helps save the crew, cargo, or ship without having a legal obligation to do so. This is called a salvage award.

For instance, if a person saves a ship and its cargo from pirates, they may receive a salvage award as a reward for their efforts.

The examples illustrate how salvage involves rescuing or saving something that is in danger of being lost or damaged. It can be a physical object like a building or a ship, or it can be the people or goods associated with them.