PROPERTY TRANSFERS
Sept. 11, 2006 - Sept. 15, 2006

1. A house on .12 of an acre at 8 Coon St. sold to Lee C. Agnew of Old Greenwich, Conn. from LMD Realty Corp., A Delaware Corporation, of Weston, Conn. for $2,550,000. The property is assessed at $1,348,900. The land bank fee is $51,000.

2. A house on .09 of an acre at 40 West Chester St. sold to 40 West Chester Street Realty Trust c/o John M. Ukraine of Aspen, Colo. from Florence Fraser of Nantucket, Mass. for $1,100,00. The property is assessed at $926,400. The land bank fee is $22,000.

 3. A house on .13 of an acre at 65 Goldfinch Drive sold to Nancy C. Camara of Nantucket, Mass. from Roger D. Pritzker of Canton, Mass. for $1,000,000. The property is assessed at $802,100. The land bank fee is $20,000.

4. A condominium on .29 of an acre at 16E Amelia Drive sold to Michael Dagesse of Nantucket, Mass. from Richard J. Glidden, Trustee of 16 Amelia Drive Realty Trust of Nantucket, Mass. for $350,000. The entire property is assessed at $1,360,700. The land bank exemption is M.

5. Avacant lot of 1.7 acres at 21 Grove Lane sold to the Nantucket Islands Land Bank of Nantucket, Mass. from William B. Chase, Peter G. Chase, Albert G. Brock and Amy Brock of Nantucket, Mass. for $50,000. The property is assessed at $706,300. The land bank exemption is A.

6. A house on .66 of an acre at 61 Hummock Pond Road sold to the Metcalf Family Trust of Nantucket, Mass. from Edward J. Metcalf of Nantucket, Mass. for $1. The property is assessed at $836,400. The land bank exemption is D.

7. A house on .13 of an acre at 3 Milk St. sold to William A. Delphos and Betsey T. Delphos, as Tenants by the Entirety, of McLean, Va. from William A. Delphos and Betsey T. Delphos, as Joint Tenants with Rights of Survivorship, of McLean, Va. for $1. The property is assessed at $2,352,200. The land exemption is C.

8. A house on .18 of an acre at 4 Newtown Road sold to Elizabeth DaSilva and Gary DaSilva of Nantucket, Mass. from Katherine V. Terry of Nantucket, Mass. for $1. The property is assessed at $544,100. The land bank exemption is C.

9. Ahouse on .19 of an acre at 15R Burnell St. sold to Dalton T. Frazier, J. Pepper Frazier, Jr., and Jason D. Meister of Nantucket, Mass. from Dalton T. Frazier of Nantucket, Mass. for $0. The property is assessed at $918,000. The land bank exemption is D.

10. Ahouse on 1.8 acres at 17 Berkeley Ave. sold to 1710, LLC, of Hobe Sound, Fla. from Louis V. Gerstner and Robin L. Gerstner of Hobe Sound, Fla. for $0. The property is assessed at $6,753,900. The land bank exemption is I.

11. Ahouse on .92 of an acre at 10 Berkeley Ave. sold to 1710, LLC, of Hobe Sound, Fla. from Louis V. Gerstner and Robin L. Gerstner of Hobe Sound, Fla. for $0. The property is assessed at

12. A house on .46 of an acre at 1 Sesachacha Road sold to Ralph N. Albright, Jr. of Washington, D.C. from Ralph N. Albright, Jr. and Susanne S. Albright of Washington, D.C. for $0. The property is assessed at $1,340,500. The land bank exemption is C.

13. A house on .46 of an acre at 1 Sesachacha Road sold to Ralph N. Albright, Jr. and Susanne S. Albright of Washington, D.C. from Ralph N. Albright, Jr. of Washington, D.C. for $0. The property is assesses at $1,340,500. The land bank exemption is C.

14. A vacant lot on .11 of an acre at 28 Ticcoma Way sold to Kim F. McLeod, Trustee of Ticcoma Way Nominee Trust of Nantucket, Mass. from Kim F. McLeod of Nantucket, Mass. for $0. The property's assessed value is unavailable. The land bank exemptions are D and C.

15. A house on 2.7 acres at 14 White Tail Circle sold to Judith M. Aveni of Plymouth, Mass. from Steven V. Aveni and Judith M. Aveni of Plymouth, Mass. for $0. The property is assessed at $1,031,300. The land bank exemption is K.

16. A house on .08 of an acre at 49 Orange St. sold to The Thomas L. Macy Revocable Trust of Silver Spring, Md. from Thomas Lawrence Macy of Silver Spring, Md. for $0. The property is assessed at $1,740,200. The land bank exemption is D.

17. Open space off Milestone Road sold to the 'Sconset Trust of Nantucket, Mass. from Sconset Hydrangeas, LLC, of Nantucket, Mass. for $0. The property's assessed value is unavailable. The land bank exemptions are C and G

18. Roadway and open space off Milestone Road sold to Gary Winn, Trustee of Sconset Hydrangeas Owners Association Trust of Nantucket, Mass. from Sconset Hydrangeas, LLC, of Nantucket, Mass. for $0. The property's assessed value is unavailable. The land bank exemption is D.

The Nantucket Islands Land Bank gained $93,000 in transfer tax fees for the week ending Sept. 16. For 2006, the Land Bank gained an estimated total of $12,300,431.20 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 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 $200,000).

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

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