PROPERTY TRANSFERS Dec. 4, 2006 — Dec. 8, 2006
1. A condominium unit at 16 Warren St. sold to Harris Warsaw of Katonah, N.Y. from Kane Nantucket Family Group Limited Partnership #1 of Hudson, Mass. for $1,650,000. The property is assessed at $750,100. The land bank fee is $33,000.

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2. A house on .08 of an acre at 7 Eagle Lane sold to Andrew Dey and Annette Day of Alstead, N.H. from Amina Perry and Beatric Perry of Nantucket, Mass. for $869,000. The property is assessed at $1,028,600. The land bank fee is $17,380.

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3. A house on .11 of an acre at 51 Nobadeer Farm Road sold to Patrick J. DaSilva, Trustee of 51 Nobadeer Farm Road Realty Trust of Nantucket, Mass. from Airport Gas Station, Inc. for $600,000. The property is assessed at $417,200. The land bank fee is $4,000 and the exemption is M.

4. A condominium unit, Unit 1, at 22 Young’s Way, sold to Paje B. Owens of Nantucket, Mass. from Stephen A. Young of Nantucket, Mass. for $328,400. The property’s assessed value is unavailable. The land bank fee is $6,568.

5. A house an .52 of an acre at 9 Arkansas Ave. sold to Frances M. Baumann and Leona Wesley of Glen Gardner, N.J. from Dorothy Baumann of Berkeley Heights, N.J. for $10,000. The property is assessed at $652,900. The land bank fee is $200.

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6. A timeshare interval, Time Period 41 in Unit A-8 in Building A at Brant Point Courtyard Condominium on Swain Street, sold to Andrew and Tiffany Sterge of Yarmouthport, Mass. from Timothy S. Knight of Mahwah, N.J. for $2,500. The property’s assessed value is unavailable. The land bank fee is $50. 7. A vacant lot on .29 of an acre at 12 Amelia Drive sold to Randy Riseborough of Nantucket, Mass. from 12 Amelia Drive Realty Trust, Erin M. Lemberg, Trustee, of Nantucket, Mass. for $1. The property is assessed at $402,000. The land bank exemptions are B and D

8. A vacant lot on .10 of an acre at 5 Jackson St. sold to Sarah P. King of Ashland, Mass. from Abram O. King of Ashland, Mass. for $1. The property is assessed at $69,500. The land bank exemption is C.

9. A house on .50 of an acre at 27 Macy’s Lane sold to Sarah P. King of Ashland, Mass. from Abram O. King and Sarah P. King of Ashland, Mass. for $1. The property is assessed at $767,200. The land bank exemption is C.

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10. A house on 4.6 acres at 1 Osprey Way sold to GHT Partnership of Memphis, Tenn. from George Treadwell and Nicole Treadwell of Memphis, Tenn. for $0. The property is assessed at $4,986,900. The land bank exemption is I.

11. A house on .15 of an acre at 12 Netowa Lane sold to Mary Beth Costello of Ambler, Pa. from James J. Costello of Blue Bell, Pa. for $0. The property is assessed at $849,100. The land bank exemption is K.

12. A condominium unit at 42E Nobadeer Farm Road sold to Richard A. Savery of Sherborn, Mass. from Nantucket Properties, LLC, of Sherborn, Mass. for $0. The property’s assessed value is unavailable. The land bank exemption is J.

13. A condominium unit at 40D Nobadeer Farm Road sold to Richard A. Savery of Sherborn, Mass. from Nantucket Properties, LLC, of Sherborn, Mass. for $0. The property’s assessed value is unavailable. The land bank exemption is J.

14. A condominium unit at 42F Nobadeer Farm Road sold to Richard A. Savery of Sherborn, Mass. from Nantucket Properties, LLC, of Sherborn, Mass. for $0. The property’s assessed value is unavailable. The land bank exemption is J.

15. A condominium unit at 42H Nobadeer Farm Road sold to Richard A. Savery of Sherborn, Mass. from Nantucket Properties, LLC, of Sherborn, Mass. for $0. The property’s assessed value is unavailable. The land bank exemption is J.

16. A condominium unit at 42H Nobadeer Farm Road sold to Janice S. Savery of Sherborn, Mass. from Richard A. Savery of Sherborn, Mass. for $0. The property’s assessed value is unavailable. The land bank exemption is C.

17. A condominium unit at 40D Nobadeer Farm Road sold to Janice S. Savery of Sherborn, Mass. from Richard A. Savery of Sherborn, Mass. for $0. The property’s assessed value is unavailable. The land bank exemption is C.

The Nantucket Islands Land Bank gained $61,198 in transfer tax fees for the week ending Dec. 9. For 2006, the Land Bank gained an estimated total of $16,921,451.26 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).

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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