In the late 17th century, Colonel Jaffrey Pyncheon [George Sanders] falsely accuses a poor carpenter, Matthew Maule [Dick Foran], of witchcraft. Maule is hanged, and Jaffrey seizes his land to build the opulent Pyncheon house. The act seeds a curse—Maule’s curse—that haunts the family for 160 years, filling the halls with fear and whispers of a long shadow over every generation.
Fast forward to the mid-19th century, and the living namesake, Jaffrey Pyncheon [George Sanders], is a lawyer just beginning his career. His elder brother, Clifford [Vincent Price], stays at the family home with their father, Gerald Pyncheon [Gilbert Emery], while Clifford dreams of marrying his cousin Hepzibah Pyncheon [Margaret Lindsay], selling the old house, and moving to New York City. Jaffrey is consumed by legends of a vast fortune hidden within the house, a legend that seems to grow as floors are pried and old walls are searched.
When Gerald refuses to sell, a violent confrontation erupts and Gerald dies—somewhere between a heart attack and a fall. Despite his belief in Clifford’s innocence, Jaffrey quickly accuses Clifford of murder. Clifford is convicted and imprisoned, but before he is led away, he renews Maule’s curse on Jaffrey. Gerald’s will leaves sizable annual incomes to the three children but the house itself to Hepzibah, who, cut off from the family fortune, locks the doors of the house and seals it against the outside world. Hepzibah’s isolation deepens, and she rarely leaves the property, while her life becomes a quiet struggle to keep the family legacy alive.
In 1841, Clifford shares a cell with a man who identifies as Matthew Maule. This prisoner becomes a surprising ally and, after a short time, is released and adopts the name Holgrave, an abolitionist who rents a room from Hepzibah. Meanwhile, Hepzibah welcomes a distant cousin’s daughter, Phoebe Pyncheon [Nan Grey], into the home and turns a portion of the house into a small, bustling shop run by Phoebe. The venture brings in money and gives Hepzibah a purpose, even as the town’s rumors swirl about the hidden treasure and a rumored secret stairway that Clifford is said to have discovered.
As Clifford’s release is finally secured by Governor, Holgrave sows further rumors that Clifford is poring over old documents and tearing up the house in search of gold. Jaffrey visits the house and, hearing noises, assumes Clifford is still scheming to seize the treasure. Hepzibah, alarmed by Holgrave’s enigmatic presence, evicts him, though Phoebe protests and defends him. Hepzibah’s discovery of Holgrave’s true identity—as Matthew Maule—shocks everyone, and she warns Clifford that danger is near.
A tense confrontation unfolds when Deacon Arnold Foster [Miles Mander], who lent money to Jaffrey, arrives demanding repayment. When Foster commits suicide in the hallway, Hepzibah accuses Jaffrey of murder. Panicked, Jaffrey signs a document that would clear Clifford’s name, agreeing to turn over the estate’s wealth so long as Clifford refrains from accusing him of murder. Clifford reveals there is no hidden staircase and no treasure at all; the treasure tale has been a weapon used to manipulate Jaffrey, a trick played by Clifford and Matthew Maule to reclaim honor rather than gold.
The revelation hits Jaffrey with a fatal shock, and he collapses. With his name cleared, Clifford marries Hepzibah and Maule marries Phoebe. The house is restored to its former grandeur, and the couple places it on the market, ready to pass the legacy into new hands.
