THE hunt for treasure on Oak Island has captured the nation’s imagination.
Known as the Money Pit, the small island off Canada’s Nova Scotia coastline is rumoured to have millions of dollars of treasure hidden on it. But who owns the islet, and why are treasure hunters there?
Who owns Oak Island?
Oak Island is privately owned.
The Oak Island Tours website states that the majority property interest in the islet is held by Oak Island Tours Inc, a duly registered incorporated company, with headquarters in Traverse City, Michigan.
According to the History Channel’s UK website, Oak Island Tours Inc owns 50 per cent of the island.
It states that in 2006, stars of the TV show The Curse Of Oak Island, Rick and Marty Lagina, bought a 50 per cent stake in the tour company, making them partial owners.
The other 50 per cent was owned by Dan Blankenship, a resident of the island.
Dan died on March 17, 2019, at the age of 95. His son Dave lives on the island.
Where is Oak Island?
Oak Island is a small private isle located off the shore of Nova Scotia, Canada, in Mahone Bay.
The show, The Curse Of Oak Island, has been running since January 5, 2014.
The show airs on The History Channel with new episodes landing on Tuesdays at 9/8c.
It is also available to watch on Hulu Plus and Peacock.
You can stream The Curse of Oak Island by renting or purchasing on Google Play, Vudu, Amazon Instant Video, and iTunes.
The show sees the Lagina brothers and others attempting to discover the legendary treasure.
What is the Oak Island treasure?
The island is believed to be home to a secret shaft dug by early explorers that contains a precious treasure trove.
According to a written account in 1862, the pit became flooded with seawater when an expedition dubbed the Onslow Company bored a second hole to more easily cart out any treasure.
As Oak island Tours site puts it, Onslow ended up with “two shafts full of water and no treasure”.
Rick and Marty have been exploring the 140-acre island for years and though they haven’t found a treasure trove yet, they have made some neat finds.
