The TV Show 'The Curse of Oak Island' has captivated treasure hunters, however who owns Oak Island isn't clear, and it does not belong to only one particular person.
History Channel's The Curse of Oak Island has fans wanting to ditch their everyday lives and set out for a brand new lifestyles on the island. The truth TV series follows a gaggle of treasure hunters who excavate for riches on the titular island, the place it's rumored infamous 17th-century pirate Captain Kidd buried his treasure.
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Those who can seek advice from the island are made up our minds via its householders, so who in fact owns Oak Island? Even regardless that the History Channel has the OK to film there, that is no indication they have any ownership over the land.
In reality, Oak Island has turn into a tourist vacation spot over the years, so it is going to make sense that no person individual owns it. Even still, the publicity the island is gaining from the show has handiest made Oak Island more widespread and has much more other people wanting to push their luck.
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Who owns Oak Island?
According to their site, Oak Island is essentially owned by Oak Island Tours Inc. It additionally states that the "majority property interest" is held by the Michigan-based company, Cerca Trova Limited.
However, a piece of writing on the History Channel website signifies that the land is owned by way of the Oak Island Society, a bunch of which Curse of Oak Island stars Rick and Marty Langina are a part.
Do the Langinas personal Oak Island?
Reportedly, the Oak Island Society owns about seventy eight percent of the land, together with the Money Pit that put the island on the map. The different 22 p.c is owned by means of island inhabitants. There are a few properties on the island that some folks personal and live in seasonally.
Given that Rick and Marty own some stake in the Oak Island Society, it stands to reason that they have got at least some possession of the island.
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But how much of it they in truth own is any other issue. An article on History's U.K. website says that Oak Island Tours Inc. owns 50 p.c of the island. In 2006, the Lagina Brothers purchased a 50 p.c stake in the tour corporate, making them partial owners. According to Looper, a number of lots are owned via producers of the show.
For all intents and purposes, the Langina brothers are shared co-owners of Oak Island with people.
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Who owns Lot Five on Oak Island?
Of the many stakes and claims across Oak Island, Lot Five is one of explicit interest. According to a Reddit thread, this 4.1 acre lot is valued at $154,100. The lot was in the past owned by way of Robert S. Young up till his passing in October 2020.
Since mid-2022, the lot has been bought via the Langina brothers, additional expanding their claim across the island.
The Lagina brothers had very different careers sooner than Oak Island.
Rick and Marty Lagina is also referred to as the stars of The Curse of Oak Island now, however that wasn't all the time their job. Marty studied science and mechanical engineering at Michigan Tech, consistent with History's U.K. website. After graduating in 1977, he took a job at a significant oil company. He then went on to get a law stage and based his own natural gas extraction company known as Terra Energy Ltd.
Later on, Marty offered that company for $60 million and persisted to spend money on various corporations over time.
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On the different hand, Rick is more private about his lifestyles prior to Oak Island, but we do know he labored for the U.S. Postal Service. After he retired, he and Marty made lives for themselves on the island. They had it appears known about Oak Island years beforehand, but it surely used to be Rick who had first turn out to be actually thinking about it and wanted to understand extra.
Catch new episodes of The Curse of Oak Island each and every Tuesday at Nine p.m. EST on The History Channel.
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