PROPERTY TRANSFERS

1. A house on .24 of an acre at 25 Vestal St. sold to Steve Perkins and Rebecca Perkins of Alexandria, Va. from L. Casey Jones and Janis Jones of Greenwich, Conn. for $3,795,000. The property is assessed at $2,837,100. The land bank fee is $75,900. 2. A vacant lot on 1.1 acres at 36 Wigwam Road sold to Michael Cohen and Marisol Cohen of London, England from Diane M. Iuliano of Belmont, Mass. for $2,325,000. The property is assessed at $760,500. The land bank fee is $46,500. 3. A house on 1.3 acres at 29 Brewster Road sold to Brian O'Callaghan of New York, N.Y. from Joan DiStefano of Old Tappan, N.J. for $1,856,250. The property is assessed at $2,682,200. The land bank fee is $37,125.

4. A house on .16 of an acre at 0 Copper Lane sold to First Down Irish, LLC, of Washington, D.C. from Walter O. Labonte, Jr. and Jay T. McConnell, Trustees, of Nantucket, Mass. for $1,650,000. The land bank fee is $33,000. 5. A house under construction on .47 of an acre at 42 Vestal St. sold to Weweeder, LLC, of Nantucket, Mass. from Hedgebury Lane, LLC, of Southfield, Mass. for $1,500,000. The property is assessed at $1,184,200. The land bank fee is $30,000.

6. A vacant lot, Lot 87, on .91 of an acre on Sun Island Road sold to Arrowhead Archeology Corporation of Nantucket, Mass. from J. Bruce MacGregor and Dennis Egan of Hyannis, Mass. for $1,500,000. The property's assessed value is unavailable. The land bank fee is $30,000.

7. A house on 1.2 acres at 24 Grove Lane sold to Marc Bloostein, Trustee of Grove Lane Realty Trust of Boston, Mass. from Robert DeC. Ward and Margaret M.E. Ward of Nantucket, Mass. for $1,425,000. The property is assessed at $1,561,000. The land bank fee is $28,500. 8. A house on .14 of an acre at 1 Cooper Lane sold to Robert Stock and Chris Brien of Newton, Mass. from Josephine Hopkins of Chester Spring, Pa. for $1,000,000. The property is assessed at $1,463,200. The land bank fee is $20,000.

9. A house and cottage on .25 of an acre at 23 Bartlett Road sold to Samuel C. Traywick of West Hyannisport, Mass. from Barbara T. Thomas of Nantucket, Mass. for $880,000. The property is assessed at $934,500. The land bank fee is $17,600.

1 10. A timeshare period, Interval Six on Lot 642 on a portion of 11 Arkansas Ave. sold to Timothy Sullivan of Amherst, N.H. from the Tristram's Group, Inc. for $17,500. The property's assessed value is unavailable. The land bank fee is $350.

11. A timeshare period, Interval Seven on Lot 642 on a portion of 11 Arkansas Ave. sold to Timothy Sullivan of Amherst, N.H. from the Tristram's Group, Inc. for $17,500. The property's assessed value is unavailable. The land bank fee is $350.

12. A timeshare period, Interval 4F on Lot 738 on a portion of 7 Midland Ave. sold to Five K Realty Trust of Nantucket, Mass. from Peter K. Smith and Jane L. Smith of Johnstown, N.Y. for $12,000. The property's assessed value is unavailable. The land bank fee is $240.

13. A timeshare interval, Time Period 43 in Unit A5 at Brant Point Courtyard on Swain Street sold to Donna C. Christian and Rachel D. Christian of Dudley, Mass. from Jeanette Topham and John Topham of Nantucket, Mass. for $1,500. The property's assessed value is unavailable. The land bank fee is $30.

2 14. A house on 1 acre at 22 Field Ave. sold to David H. Lombardi and Laura K. Lombardi, Trustees of Lombardi Realty Trust of Orleans, Mass. from David H. Lombardi and Laura K. Lombardi of Nantucket, Mass. for less than $100. The property is assessed at $1,603,200. The land bank exemption is D.

15. A house on 1.5 acres at 70 Hummock Pond Road sold to Gertrude Broward, Trustee of Broward Realty Trust of Nantucket, Mass. from Gertrude Broward of Nantucket, Mass. for $1. The property is assessed at $1,037,100. The land bank exemption is D.

16. A house on .57 of an acre at 34 Ahab Drive sold to 34 Ahab Drive Realty Trust of Nantucket, Mass. from Paul J. Gaynor of Natick, Mass. for $1. The property is assessed at $1,805,500. The land bank exemptions are C and D.

17. A vacant lot on .76 of an acre at 8 Pinkham Circle sold to Pinkham Circle II, LLC, of Nantucket, Mass. from Cynthia S. Thurston and Sidney W. Thurston of Arlington, Va. for $1. The property is assessed at $683,800. The land bank exemption is I.

3 18. A vacant lot on .47 of an acre at 10 Pinkham Circle sold to Pinkham Circle II, LLC, of Nantucket, Mass. from Lisa T. Hartley of Ashburn, Va. for $1. The property is assessed at $665,600. The land bank exemption is I.

19. A house on 1 acre at 3 Catherine Lane sold to Corinne H. Nevviny-Lyle, Trustee, of Newport Coast, Calif. from Corinne H. Nevviny- Lyle of Newport Coast, Calif. for $0. The property is assessed at $1,057,900. The land bank exemption is D.

20. A house on 1 acre at 3 Catherine Lane sold to Corinne H. Nevviny-Lyle CH of Newport Coast, Calif. from Corinne H. Nevviny-Lyle and Bruce K. Lyle CH of Newport Coast, Calif. for $0. The property is assessed at $1,057,900. The land bank exemption is C.

21. A business on .28 of an acre at 71 Bartlett Road sold to Matthew Davis Rives of Nantucket, Mass. from Matthew Davis Rives and Barbara Whaples Rives of Nantucket, Mass. for $0. The property is assessed at $794,200. The land bank exemption is K.

22. A house on .53 of an acre at 4 Pinkham Circle sold to Dane S. DeCarlo and Kathryn S. Haigh, Trustees of the 4 Pinkham Circle Realty Trust of Nantucket, Mass. from Dane S. DeCarlo and Kathryn S. Haigh of Nantucket, Mass. for $0. The property is assessed at $1,616,200. The land bank exemption is C.

4 23. Ahouse on .18 of an acre at 28 Clarendon St. sold to Gregory Criscuolo of Cheshire, Conn. from Gregory and Vera Criscuolo of Cheshire, Conn. for $0. The property is assessed at $1,114,300. The land bank exemption is C.

24. A vacant lot, Lot 87, on .91 of an acre on Sun Island Road sold to J. Bruce MacGregor of Hyannis, Mass. and Dennis Egan of Hyannis, Mass. from J. Bruce MacGregor of Hyannis, Mass. for $0. The property's assessed value is unavailable. The land bank exemption is D.

The Nantucket Islands Land Bank gained $319,595 in transfer tax fees for the week ending Aug 4. For 2007, the Land Bank gained an estimated total of $7,671,187.91 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.

5 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).

7 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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