The only thing left now is to get title insurance—the piece of paper that ensures that the property is free of liens that could prevent it from legal sale—and to officially transfer the funds.

Given the long history of public control over waterways, no individual claiming to own legal title to a public waterway can really have a firm expectation of uninhibited use of his "property".

Leases can be used to strip out and hide value: legal title is with one entity; the property is then leased on preferential terms to a related entity;