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PROPERTY TRANSFERS
2. A house on 2.1 acres at 101 Surfside Road sold to William A. Willauer of Nantucket, Mass. from 101 Surfside Road Realty Trust of Wellesley, Mass. for $1,600,000. The property is assessed at $719,500. The land bank fee is $24,000 and the exemption is M. 3 3. Ahouse on .12 of an acre at 7B Grove Lane sold to Lee A. Pickard and Lynne S. Pickard of Washington, D.C. from Andrew Whelan, Trustee, of Boston, Mass. for $1,500,000. The property is assessed at $979,700. The land bank fee is $30,000. 4. A house on .14 of an acre at 40 Shell St. sold to Richard Duncan and Cherie Duncan of Siasconset, Mass. from Susan LaTulippe (f/k/a Susan Koch Slimmon) of Jericho, Vt. for $1,150,000. The property is assessed at $1,318,100. The land bank fee is $23,000.
5. A house on .32 of an acre at 18 Waydale Road sold to Robert H. Noll and Kelly A. Noll of Nantucket, Mass. from Lawrence P. Dunham, Executor of the Estate of Byron V. Dunham of Annandale, Va. for $1,060,000. The property is assessed at $907,700. The land bank fee is $21,210. 6 6. A house on .09 of an acre at 12 Maine Ave. and .09 of an acre at 14 Maine Ave sold to Maine Avenue Trust, James M. Merberg, Trustee, of Newton, Mass. from Paul R. Sklarew and Barbara B. Sklarew of Yarmouthport, Mass. for $857,500. The properties are assessed at $488,900 and $846,300, respectively. The land bank fee is $17,150. 7. A house at 3 Fayette St. on .04 of an acre sold to Arlene Hogan of Los Angeles, Calif. from Malcom W. MacNab of Nantucket, Mass. for $770,000. The property is assessed at $706,500. The land bank fee is $15,400. 8. A vacant lot on .66 of an acre at 96 Cliff Road sold to Kristin E. Hanly of Nantucket, Mass. from Flag Root Pond, LLC, of Fort Lauderdale, Fla. for $600,000. The property is assessed at $1,357,200. The land bank fee is $12,000. 9. A house on .13 of an acre at 3 Folger's Court sold to Kathy L. Arvay of Mendham, N.J. from Cynthia L. Nelson of Amherst, Mass. for $250,000. The property is assessed at $334,800. The land bank fee is $5,000.
11. A vacant lot on .09 of an acre at 12 Maine Ave. sold to Paul R. Sklarew and Barbara B. Sklarew of Yarmouthport, Mass. from the Town of Nantucket, Mass. for $10,001. The property is assessed at $488,900. The land bank fee is $200. 12. A timeshare interval at Unit C-4 in Building C at Brant Point Courtyard Condominium on Swain Street sold to Brian L. Royea and Felicia M. Royea of Southeast Palm Bay, Fla. from Robert Flynn and Terry Flynn of Manchester, Conn. for $1,200. The property's assessed value is unavailable. The land bank fee is $24. 13. A timeshare dwelling, Cottage 10 at Tristram's Landing sold to Caroline Quinlan Figucia and Joseph Figucia of Lynnfield, Mass. from Janice V. Quinlan of Fairhaven, Mass. for $1 and love and affection. The property's assessed value is unavailable. The land bank exemption is C.
16. A house on .08 of an acre at 32 Pleasant St. sold to Pleasant Dreams, LLC, of New Canaan, Conn. from Ann W. Armstrong of New Canaan, Conn. for $0. The property is assessed at $1,641,900. The land bank exemptions are I and C. 17. Ahouse on 1.1 acres at 30 Long Pond Drive sold to Douglas A. Horst and Maureen M. Phillips of Newton, Mass. from Douglas A. Horst of Newton, Mass. for $0. The property is assessed at $1,244,400. The land bank exemption is C.
19. A house on .25 of an acre at 39 Ridge Lane sold to Sheron C. Lowe, Trustee of the Lowe Family Real Estate Trust dated September 12, 2006, of South Glastonbury, Conn. from Sheron C. Lowe of South Glastonbury, Conn. for $0. The property is assessed at $1,149,200. The land bank exemption is D. 20. A house on .32 of an acre at 5 Lincoln Ave. sold to Frederick N. Levinger, Trustee & Carol J. Levinger, Trustee, of Providence, R.I. from Frederick N. Levinger, Trustee of certain Trusts & Carol J. Levinger, Trustee of certain Trusts of Providence, R.I. for $0. The property is assessed at $5,193,600. The land bank exemption is D. 21. A house on .03 of an acre at 5 Folger's Court sold to Cheryl Delgreco of Boston, Mass. from Sconset Holdings, LLC, of Boston, Mass. for $0. The property is assessed at $975,800. The land bank exemption is D.
The Nantucket Islands Land Bank gained $449,114.02 in transfer tax fees for the week ending Nov. 11. For 2006, the Land Bank gained an estimated total of $15,705,613.26 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).
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