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Wednesday, December 12, 2007

House Turns Into a Money Pit

Contractor Bob Kitts found $182,000 in Depression-era cash behind the walls of a Cleveland house he was rehabbing for a friend. Now he and the homeowner, Amanda Reece, are heading to court to find out who gets the money.

They traced the home's Depression-era ownership to a businessman named Peter Dunne, Kitts said. The money bundles had "P. Dunne" written on them, but no sign of its origin. Dunne apparently died unmarried and childless, leaving behind a mystery -- a fortune that would be worth an inflation-adjusted $2.7 million in today's money.

But the joy, friendship and contractual bonds of the former classmates dissolved like melting snow amid the heat of all that money. Now Kitts and Reece speak to each other only through their lawyers. [Link]
[Thanks, Nancy!]

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