H.R. 2500, titled the “Abandoned Vessel Prevention Act,” aims to change the United States Code to make someone responsible for certain costs if they sell a commercial vessel or an old commercial vessel for recreational use, and it sinks without the new owner having insurance....
Simple Explanation
If someone sells a big, old boat to be used for fun but doesn't make sure the new owner gets insurance, and the boat sinks, the person who sold it might have to pay for some of the mess it makes.