I don't know how collateral on a mortgage on a ship this size works. But I am pretty sure even if they handed it to him, he couldn't do anything with it because it would have a Lein on it.
Your point still remains valid though.
Your point still remains valid though.
If he had title, then he could sell it. The lienholder, however, would have a claim on the proceeds of the sale.
The mess of US civil forfeiture laws originally showed up in maritime law such that the owners and outstanding loans became irrelevant. In effect the physical object is what’s confiscated breaking any ties to anyone that had a prior ownership stake.