Originally Posted by SquireMD

OK...
deadwood is a goldrush town...settlers have titles to their claims (sites where they pan or mine for gold), much as you do for your house...

deadwood had not yet been annexed by a state, and a rich tycoon planted rumors that when south dakota DID annex deadwood, all claims might be invalidated, but he'd buy the claims at a discount now and take the "risk"...