PROPERTY TRANSFERS
Aug. 6, 2007 - Aug. 10, 2007
1. A house on .39 of an acre at 14 Lincoln Ave. sold to Kim Mary Wentworth, Trustee, 2006 KMG Trust of Morristown, N.J. from Mary Whitt Fishel, Trustee, Lincoln Avenue Nominee Trust, of Lexington, Ky. for $8,000,000. The property is assessed at $5,081,800. The land bank fee is $160,000.

2. A house on .02 of an acre at 22 Old North Wharf (Lease Area 6) sold to Fish House, LLC, of New York City, N.Y. from Roy Y. Williamson, Trustee of Roy Y. Williamson Revocable Living Trust of Key West, Fla. for $4,000,000. The property is assessed at $2,130,500. The land bank fee is $80,000.

3. A house on .21 of an acre at 3 Elbow Lane sold to Harry C. Pinson and Karen C. Pinson of Houston, Texas from Stuart H. Whitlock and Susan R. Whitlock of Siasconset, Mass. for $3,600,000. The property is assessed at $2,844,900. The land bank fee is $72,000.

4. A house on .46 of an acre at 24 Cannonbury Lane sold to Robert Talbott of Knoxville, Tenn. from Melanie M. Minella of Westport, Mass. for $2,975,000. The property is assessed at $2,908,500. The land bank fee is $59,500.

5. A house on .19 of an acre at 101 Orange St. sold to Heelage Realty Trust of Nantucket, Mass. from Twelve North Road Nominee Trust of Santa Barbara, Calif. for $1,990,000. The property is assessed at $2,259,400. The land bank fee is $39,800.

6. A house on 1.8 acres at 18 Deer Run Road sold to Robert G. Scheide and Sarah Scheide of Nantucket, Mass. from Frederick C. Childs, Administrator of the Estate of Daniel R. Childs, of Cambridge, Mass. for $1,900,000. The property is assessed at $1,654,500. The land bank fee is $38,000.

7. A house on 1.8 acres at 28 South Shore Road sold to Nantucket Homes for People, Inc. of Southborough, Mass. from Robert G. Scheide of Nantucket, Mass. for $1,650,000. The property is assessed at $993,200. The land bank exemption is G.

8. A house on .37 of an acre at 9 New Jersey Ave. sold to Bernard F. Blaney of Marblehead, Mass. from Frederick R. Swan, Jr., Patricia L. Swan, Keith C. Humphreys and Maria S. Humphreys (fka Pamela S. Sheil) of Canton, Conn. for $1,075,000. The property is assessed at $1,136,000. The land bank fee is $21,500.

9. A house at 4 Thistle Way sold to Sheldon Rogers and Phyllis Rogers of Morganville, N.J. from Rugged Scott, LLC, of Cambridge, Mass. for $1,060,000. The property's assessed value is unavailable. The land bank fee is $21,200.

10. A house on 1.1 acres at 22 Flintlock Road sold to Baker and Jody Mallory of Rowayton, Conn. from J. Brian Evans and Marcia Killan Evans of Nantucket, Mass. for $925,000. The property is assessed at $991,100. The land bank fee is $18,500.

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11. A vacant lot on 3.5 acres on portion of 54 Bartlett Road sold to Richard E. Kotolac and Melanie R. Kotolac of Nantucket, Mass. from Donald E. Dimock of Nantucket, Mass. for $675,000. The property is assessed at $1,075,700. The land bank fee is $13,500.

12. A timeshare interval on .64 of an acre at 3 Goose Cove Ave. sold to Karen S. and Taras A. Kolesnick of Cherry Hill, N.J. from Debra L. Sidorowicz of Norwood, Mass. for $40,000. The entire property is assessed at $982,700. The land bank fee is $800.

13. A timeshare period, Interval 15 on Lot 641 on a portion of 9 Arkansas Ave. sold to Gerald Rush of Acton, Mass. from Phyllis Melnick, Trustee of Phyllis Melnick Revocable Trust, of Shaker Heights, Ohio for $12,500. The property's assessed value is unavailable. The land bank fee is $250.

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14. A timeshare interval, Period 45 in Unit A2, Building on a portion of Swain Street sold to Joseph E. Watts and Ann F. Watts of Westborough, Mass. from Brant Point - Nantucket, Inc. of Yarmouthport, Mass. for $500. The property's assessed value is unavailable. The land bank fee is $10.

15. A house on .26 of an acre at 42 Baxter Road sold to Michael S. Karlson of Boston, Mass. from Jane F. King, as Trustee of The 42 Baxter Road Nominee Trust of Nantucket, Mass. for $1. The property is assessed at $2,850,300. The land bank exemptions are C and D.

16. A house on 1 acre at 6 Swift Rock Road sold to Roberta H. DiPanni, as trustee of the Roberta H. DiPanni Revocable Trust of Nantucket, Mass. from Roberta H. DiPanni of Nantucket, Mass. for $1. The property is assessed at $1,246,800. The land bank exemption is D.

17. A house on .11 of an acre at 20 Hussey St. sold to Alan I. Newh ouse and Sandra Cross Newhouse of Nantucket, Mass. from Alan I. Newhouse, Trustee, of Nantucket, Mass. for $0. The property is assessed at $2,068,300. The land bank exemption is D.

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18. A house at 29D South Shore Road sold to Cara Nielson and Tue Nielsen of Nantucket, Mass. from Cara Nielsen of Nantucket, Mass. for $0. The property's assessed value is unavailable. The land bank exemption is C.

19. A vacant lot on .92 of an acre at 72 North Liberty St. sold to Philip J. Minella, Trustee of 72 North Liberty Realty Trust of Nantucket, Mass. from Philip J. Minella of Nantucket, Mass. for $0. The property is assessed at $1,479,800. The land bank exemption is D.

20. A vacant lot on 3.5 acres at 68 North Liberty St. sold to Philip J. Minella, Trustee of 72 North Liberty Realty Trust of Nantucket, Mass. from Philip J. Minella of Nantucket, Mass. for $0. The property is assessed at $3,675,200. The land bank exemption is D

21. A house on 1.3 acres at 3 Wamasquid Place sold to Michele Poupon of Nantucket, Mass. from Paulette Allemand and Charly Allemand of Nantucket, Mass. for $0. The property is assessed at $1,522,400. The land bank exemption is C.

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The Nantucket Islands Land Bank gained $503,860 in transfer tax fees for the week ending Aug 11. For 2007, the Land Bank gained an estimated total of $8,175,047.91 in transfer fees. Land bank income is derived mostly from the collection of a two-percent transfer tax on real estate transactions, subject to certain exemptions. The land bank acquires, holds, and manages land for open space and recreation on Nantucket. Other revenue sources include investments, private contributions, leasing of the Lily Pond Cottage at 15 North Liberty St., and properties at 2 Massasoit Bridge Road, 159 Hummock Pond Road, and 22 Broad St.

NOTES ON EXEMPTIONS Many of the property transfers recorded with the Land Bank are exempt from the 2-percent transfer fee using one of 13 exemptions allowed by the Land Bank Act as follows: A: transfer to government entity. B: transfer which, without

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additional consideration, confirms, corrects, modifies, or supplements a previously made transfer. C: transfer made as a gift without consideration. D: certain transfers to and from a trust. E: transfer via death or bankruptcy. F: transfer made in partition of land and improvements. G: transfer to charitable organizations. H: transfer to a mortgagee in foreclosure of the mortgage. I: certain transfers made to or within a corporation or partnership. J: certain transfers out of a corporation or partnership. K: transfer due to divorce. L: transfer of property that is partially personal property and partially real property. M: certain first-time property buyers (applies to the first $400,000).

The above explanations are abbreviated because the language explaining these exemptions is too lengthy to print in this section every week. If you're curious about a certain exemption, go to the Nantucket Islands Land Bank Web site for complete information on the exemptions and the land bank's governing bylaws: http://www.nantucketlandbank.org. Or visit the office at 22 Broad St. I

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