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Originally Posted by thedoc
Have they determined who owns it yet?
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Prior to uplift the intertidal and subtidal area was declared to be "unowned" but with various rules regarding access and use. I haven't found information on what happens in cases of sudden uplift, but by analogy with the cases of land reclamation and accretion I would guess the former status continues to apply but adjoining landowners may have rights to claim for adjustment of boundaries to reflect the new reality.
Sudden new land after earthquakes has happened here before, but not for some time and the legal situation has changed. For example, here are before and after diagrams of changes to an estuary from the 1931 Napier earthquake. Over 2000 hectares of lagoon were affected and there is now an airport on the former lagoon.