All wharves heretofore or hereafter erected by license from said board, under or by virtue of existing laws, shall be the property of the party or persons so lawfully and properly licensed to erect or extend said wharf, his or their heirs, successors, and assigns, and may be conveyed by deed as in other cases of conveyance of real estate, but shall always remain subject to such regulations as are authorized by existing laws.
53 P.S. § 16833