Jim Evers (EDDIE MURPHY) is a successful realtor who runs his own company with his wife Sara (MARSHA THOMASON). His drive to provide for the family, however, has put a strain on their relationship since he's often too busy with work to spend time with their kids, 13-year-old Megan (AREE DAVIS) and her 10-year-old brother, Michael (MARC JOHN JEFFERIES).
Accordingly, he agrees to spend an entire, work-free weekend with them. Yet, when Sara gets a call requesting she come alone to meet a potential client in an upscale neighborhood, Jim insists that they stop by on the way to their getaway.
His family reluctantly goes along and soon finds themselves in a rundown but immense mansion. There, they meet the head butler, Ramsley (TERENCE STAMP), other staff including Ezra (WALLACE SHAWN) and Emma (DINA WATERS), as well as the owner of the estate, Master Gracey (NATHANIEL PARKER).
When a sudden storm floods the roads, the Evers find themselves stuck there overnight. While Gracey tells Sara the story of his grandfather and his unfulfilled and tragic life with the young Elizabeth, Jim and the kids separately end up looking about the mansion.
With the help of the bodiless, crystal ball fortune teller Madame Leota (JENNIFER TILLY), they soon discover that something bad happened at the mansion and that others are trying to remedy that via the Evers. From that point on, and as various ghosts start coming out of the woodwork, Jim and his kids do what they can to lift a longtime curse and help both Sara and the spirits of those trapped in the haunted mansion.