N.Y. Navigation Law § 138: Sale and disposition of property

§ 138. Sale and disposition of property. 1. If within a year after

wrecked property shall have been saved, no person shall have appeared to

claim the same, or if the salvage and expenses on such property shall

not have been paid within three months after the same shall have been

adjusted, or an action for the recovery of the property shall have been

commenced, the officer in whose custody the property shall be shall sell

the same at public auction, and pay the proceeds of such sale, deducting

salvage and expenses, to the state comptroller pursuant to the

provisions of section thirteen hundred seven of the abandoned property

law for the benefit of the parties interested; but in no case shall any

deduction of salvage and expenses be made unless the amount thereof

shall have been adjusted upon due proof, by an order of such county or

city court, a copy of which order and of the evidence in support thereof

shall be transmitted by the court making it to the comptroller.

2. If the property has been sold as perishable, pursuant to the

provisions of section one hundred thirty-one, the balance of the

proceeds, after deducting the salvage and expenses as adjusted, shall be

paid by the county treasurer to the state comptroller as provided in

section thirteen hundred seven of the abandoned property law.