This Is Who Really Owns The Money Pit On Oak Island

According to Oak Island Society (via History's page on the Money Pit), a group consisting of Ricky and Marty Lagina, plus several other partners, owns the Money Pit along with 78% of the rest of the island. The other 22% belongs to Oak Island's seasonal residents. Unfortunately, by the Lagina brothers' admission, there is a good chance that they might be in the wrong spot, despite whatever they may claim about owning the original pit.

History's Money Pit explainer also reveals that, allegedly, a botched excavation to the island in the 1960s caused the original pit location and all of the surrounding dig sites to collapse into a single giant pile of mud and stone. Since then, the original location has been lost to treasure seekers. Therefore, the truth is that the Laginas actually own a general area that's theoretically meant to include the Money Pit. However, they have no clue whether they are digging in the correct spot or if they even own the correct pit at all.

This claim about owning the Money Pit is yet another aspect of "The Curse of Oak Island" that makes the show so frustrating yet intriguing to watch since the Laginas have no clue where the original pit is, and it could be located on that slim 22% of the island they don't yet own.