PROPERTY TRANSFERS
Jan. 8, 2007 - Jan. 12, 2007
1. A house on .12 of an acre at 5 Fair St. sold to Gary A. Simanson of Great Falls, Va. from Stephen P. Walker and David Walker, Trustees of 5 Fair Street Trust of Nantucket, Mass. for $2,550,000. The property is assessed at $2,108,600. The land bank fee is $51,000. 2. A house on .08 of an acre at 4 Quince St. sold to Dale and Susan Hamilton of Nantucket, Mass. from Mary B. Merton of Nantucket, Mass. for $2,200,000. The property is assessed at $1,803,000. The land bank fee is $44,000. 3. A house on .10 of an acre at 13 India St. sold to 13 India St., LLC, of New York City, N.Y. from Dale Hamilton and Susan Hamilton of Nantucket, Mass. for $1,995,000. The property is assessed at $1,648,400. The land bank fee is $39,900. 4. A house on .16 of an acre at 26 Mill St. sold to Margot Hartman, Rita C. Chrappa of Nantucket, Mass. from Bradford L. vonWeise of Concord, Mass. for $1,930,000. The property is assessed at $1,236,400. The land bank fee is $38,600. 5. Ahouse on .69 of an acre at 22 Ahab Drive sold to Lisa M. Moisan of Woodbury, Conn. from Robert E. Knots, Jr. and Janet H. Knots of Athens, Tenn. for $1,775,000. The property is assessed at $1,180,900. The land bank fee is $35,500.

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6. A vacant lot on a portion of 1.3 acres at 29 Brewster Road sold to Joann Distefano of Westwood, Mass. from Gary A. Winn of Nantucket, Mass. for $1,500,000. The property is assessed at $2,497,100. The land bank fee is $30,000. 7. A house on .06 of an acre at 3 Martin's Lane sold to Three Martin's Lane, LLC, of Boston, Mass. from Maureen A. Webster of Bethesda, Md. for $975,000. The property is assessed at $1,366,700. The land bank fee is $19,500. 8. A cooperative lease area on .43 of an acre at 16B Daffodil Lane sold to Jonathan M. Wisentaner and Lisa Wisentaner of Nantucket, Mass. from Jessie M. Glidden, Trustee of Blair 2 Realty Trust of Nantucket, Mass. for $945,000. The property is assessed at $1,035,700. The land bank fee is $10,900 and the exemption is M. 9. A house on 1.05 acres at 240 Madaket Road sold to Genevieve Salvatore of Milford, Conn. from Richard J. Craveiro of Nantucket, Mass. for $914,000. The property is assessed at $725,600. The land bank fee is $18,280.

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10. A house on .23 of an acre at 5 Dennis Drive sold to Stephany T. Goldsmith of Nantucket, Mass. from Jonathan M. Wisentaner of Nantucket, Mass. for $799,000. The property is assessed at $647,500. The land bank fee is $7,980 and the exemption is M.

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11. A house on .13 of an acre at 24 New St. in Siasconset sold to Sarah Rick and John R. Rick of Atlanta, Ga. from Frank L. Hereford, Successor Trustee of Hedgedin Realty Trust of Charlottesville, Va. for $625,000. The property is assessed at $905,000. The land bank fee is $12,500 and the exemptions are C and D.

12. A timeshare period in Unit A-8, Building A at Brant Point Courtyard Condominium on Swain St. sold to Diane J. Leech of New York City, N.Y. from Donald and Lucienne Leafe of Litchfield, N.H. for $5,000. The property's assessed value is unavailable. The land bank fee is $100.

13. Atimeshare period at Brant Point Courtyard Condominium on Swain St. sold to Nancy and Stephen Buckley of Hingham, Mass. from Susan Vaughan of Cohasset, Mass. for $4,000. The property's assessed value is unavailable. The land bank fee is $80.

14. A timeshare period, Interval 39, in Unit A- 3, in Building A at Brant Point Courtyard Condominium on Swain St. sold to Eugene L. and Julia C. Lambert of Exeter, N.H. from Edward H. and Marilyn A. Sancomb of Hopkinton, Mass. for $3,300. The property's assessed value is unavailable. The land bank fee is $66.

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15. A timeshare period, Interval 42, in Unit A- 1, in Building A at Brant Point Courtyard Condominium on Swain St. sold to Joseph G. Gandy and Theresa J. Gandy of Belleair Bluffs, Fla. from Stanley M. Martinek and Rosemary Martinek of Guffenberk, N.J. for $3,000. The property's assessed value is unavailable. The land bank fee is $60.

16. A timeshare period, Interval 51, in Unit A- 8, in Building A at Brant Point Courtyard Condominium on Swain St. sold to John Farrington et al, Trustee of the Brant Point Courtyard Condominium Trust c/o Vacation Resorts International of Hyannis, Mass. from Susan F. Haviland of Carnation, Wash. for $746.52. The property's assessed value is unavailable. The land bank fee is $14.93.

17. Ahouse on 1.0 acre at 36 Quidnet Road sold to Stewardson Family, LLC of Lexington, Mass. from Elizabeth S. Connolly, Managing General Partner of the Stewardson Family Partnership of Lexington, Mass. for $1. The property is assessed at $1,699,400. The land bank exemption is I.

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18. A house on .36 of an acre at 8 Ames Ave. sold to the Menz Family Trust, Gerald L. Menz and Anne S. Menz, Trustees, of Montgomery, Texas from Gerald L. Menz and Anne S. Menz of Montgomery, Texas for $0. The property is assessed at $1,244,200. The land bank exemption is D.

19. A house on .36 of an acre at 8 Ames Ave. sold to the Menz Family Trust, Gerald L. Menz and Anne S. Menz, Trustees, of Montgomery, Texas from Gerald L. Menz and Anne S. Menz of Montgomery, Texas for $0. The property is assessed at $1,244,200. The land bank exemption is D.

20. A house on 8.3 acres at 116 Polpis Road sold to VBDC, LLC, of Naples, Fla. from Philip G. Heasley and Maureen Heasley of Naples, Fla. for $0. The property is assessed at $8,061,500. The land bank exemption is I.

21. A house on .23 of an acre at 36 Nobadeer Ave. sold to Dennis W. Brush of Kentfield, Calif. from Dennis W. Brush and Anne K. Brush, Trustees of the Dennis W. Brush and Anne K. Brush Revocable Trust of Ross, Calif. for $0. The property is assessed at $1,529,800. The land bank exemptions are D and K.

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The Nantucket Islands Land Bank gained $308,420.93 in transfer tax fees for the week ending Jan. 13. For 2007, the Land Bank gained an estimated total of $618,548.92 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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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.

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org. Or visit the office at 22 Broad St. I

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