PROPERTY TRANSFERS
Oct. 30, 2006 - Nov. 3, 2006
1. A vacant lot on 9.9 acres at 50 Old South Road sold to the Nantucket Islands Land Bank of Nantucket, Mass. from the Holdgate Family Limited Partnership of Nantucket, Mass. for $12,500,000. The property is assessed at $5,801,200. The land bank exemption is A.

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2. A house on 2.7 acres at 81 Low Beach Road sold to 81 Low Beach Road, LLC, of Southborough, Mass. from Daniel M. McEvoy and Cynthia D. McEvoy of Garrison, N.Y. for $5,200,000. The property is assessed at $2,833,000. The land bank fee is $104,000.

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3. A house on .15 of an acre at 9 Fair St. sold to Whitney A. Gifford, Trustee of Mayberry Nominee Trust of Newtown, Pa. from 9 Fair Nantucket, LLC, c/o Garrison Square Management of Boston, Mass. for $4,652,000. The property is assessed at $2,021,700. The land bank fee is $93,040.

4 4. A house on .46 of an acre at 8 Stone Post Way sold to Theodore C. Palumbo, Julianne E. Palumbo, Kevin S. Palumbo and Leah C. Palumbo of East Greenwich, Conn. from Jane C. Cafritz of Washington, D.C. for $2,500,000. The property is assessed at $1,398,600. The land bank fee is $50,000.

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5. Ahouse on .19 of an acre at 23 New St., 'Sconset, sold to J. Robinson West, Trustee of the 23 New Street Nominee Trust of Washington D.C. from Richard Duncan and Cherie Duncan of Siasconset, Mass. for $2,400,000. The property is assessed at $1,182,900. The land bank fee is $48,000.

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6. Ahouse on 2.8 acres at 36 Pocomo Road sold to Scott Martin of New Canaan, Conn. from Mark S. Greenberg and Tami L. Morachnick of Scarsdale, N.Y. for $2,322,500. The property is assessed at $1,795,000. The land bank fee is $46,450.

7. A house on .14 of an acre at 29 Siasconset Ave. sold to Charles w. Gertds and Elizabeth E. Gertds of Darien, Conn. from Polpis Road, LLC, a Massachusetts limited liability company, of Burlington, Vt. For $1,875,000. The property is assessed at $1,116,100. The land bank fee is $37,500.

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8. A condominium at 13B Willard St. sold to Douglas B. Traynor and Deirdre N. Traynor of Fairfield, Conn. from Donald D. Reefe, Trustee, of Farmington, Conn. for $1,700,000. The property is assessed at $1,022,400. The land bank fee is $34,000. 9. Ahouse on .45 of an acre at 124 Cliff Road sold to North Mecklenburg, LLC of Nantucket, Mass. from Susan T. Peterson, Trustee of Tiny Tim Trust of Boxford, Mass. for $1,575,000. The property is assessed at $1,318,600. The land bank fee is $31,500. 10Path sold to Rassack Realty Trust of Needham, Mass. from James F and Joanne Farrell and Thomas and Eileen Farrell of Saunderstown, Va. for $1,300,000. The property is assessed at $1.025,300. The land bank fee is $26,000.

11. A house on .15 of an acre at 6 Yompasham Lane sold to Jennifer L. Eldridge of Nantucket, Mass. from Martha Lake-Greenfield of Nantucket, Mass. for $645,000. The property is assessed at $763,800. The land bank fee is $2,900 and the exemption is M.

12. A condominium at 4A Goldfinch Drive sold to Bruce W. Fall of Nantucket, Mass. from Wayne M. Howington of Nantucket, Mass. for $505,000. The property is assessed at $364,300. The land bank fee is $10,100.

13. Avacant lot on 3.2 acres at 6 Eel Point Road sold to the Nantucket Islands Lands Bank of Nantucket, Mass. from 6 Eel Point Nominee Trust, Gregory R. Nichols, Trustee, of Siasconset, Mass. for $350,000. The property is assessed at $1,389,100. The land bank fee exemption is A.

14. Atimeshare interval on .60 of an acre at 304 Madaket Road sold to Jamie M. Mootz of Asheville, N.C. from George J. Wasserman of Brookline, Mass. for $18,000. The property is assessed at $825,500. The land bank fee is $360.

15. A vacant lot on Block 191 and 192 in Surfside sold to Carol P. Woodworth and Ellery Woodworth of Brookline, Mass. from Carol P. Woodworth and Ellery Woodworth of Norwood, Mass. for $1. The property's assessed value is unavailable. The land bank exemption is D.

16. A house on 1.8 acres at 1 White St. sold to Robert J. Deininger and Elinor C. Deininger, Trustees of Deininger Realty Trust, dated Sept. 12, 2006, of Norwell, Mass. from Robert J. Deininger of Norwell, Mass. for $1. The property is assessed at $1,099,700. The land bank exemption is D.

17. A house on .15 of an acre at 9 Fair St. sold to 9 Fair Nantucket, LLC, of Boston, Mass. from Judith Chase Nantucket, LLC, of Boston, Mass. for $1. The property is assessed at $2,021,700. The land bank exemption is B.

18. A house on .12 of an acre at 1 Judith Chase Lane sold to Judith Chase Nantucket, LLC, of Boston, Mass. from 9 Fair Nantucket, LLC, of Boston, Mass. for $1. The property is assessed at $1,295,100. The land bank exemption is B.

19. A house on .72 of an acre at 1 Midland Ave. sold to Anastassia Kovary of North Caldwell, N.J. from Robert R. Jordan and Agnes S. Jordan of Roseland, N.J. for $0. The property is assessed at $677,300. The land bank exemption is C.

20. A house on .72 of an acre at 1 Midland Ave. sold to Susan A. Lusquinos of Lebanon, N.J. from Robert R. Jordan and Agnes S. Jordan of Roseland, N.J. for $0. The property is assessed at $677,300. The land bank exemption is C.

21. A house on .14 of an acre at 18 Goldfinch Drive sold to Donald E. Battis and Barbara A. Battis of New Castle, N.H. from Donald E. Battis and Barbara A. Battis, Trustees of the Seabatt I Nominee Trust of Nantucket, Mass. for $0. The property assessed at $1,316,600. The land bank exemption is D. 22. A house on .31 of an acre at 7 Otokomi Road sold to Lindsey C. Knapp and Amy G. Knapp of Nantucket, Mass. from Jeffrey C. Knapp and Cynthia E. Knapp of Rye, N.H. for $0. The property is assessed at $647,200. The land bank exemption is C.

23. A house on .24 of an acre at 25 Vestal St. a/k/a 6R Quaker Road sold to L. Casey Jones and Janis Jones of Greenwich, Conn. from Janis Jones, Trustee of Tango Nominee Trust of Greenwich, Conn. for $0. The property is assessed at $2,642,900. The land bank exemption is C.

24. A duplex half, Unit 4B on Park Circle sold to Styles Holdings, LLC, of Miami, Fla. from Paul C. Steinfurth and Lynne H. Steinfurth of Miami, Fla. for $0. The property's assessed value is unavailable. The land bank exemption is C.

The Nantucket Islands Land Bank gained $483,850 in transfer tax fees for the week ending Nov. 4. For 2006, the Land Bank gained an estimated total of $15,256,499.24 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 $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.

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