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PROPERTY TRANSFERS
March 26, 2007 - March 30, 2007
1. A house on 1.3 acres at 21R Madaket Road sold to Steven P. and Victoria P. Lombardo of Bethesda, Md. from Warren W. Hill of Nantucket, Mass. for $2,700,000. The property is assessed at $2,015,700. The land bank fee is $54,000. 2. A house on .92 of an acre at 89 Polpis Road sold to Eugene D. Hill, III of Prides Crossing, Mass. from Elizabeth F. Murphy, as Trustee of Collins-Match Nominee Trust of Nantucket, Mass. for $2,100,000. The property is assessed at $1,535,200. The land bank fee is $42,000. 3. A vacant lot on .91 of an acre at 14 Plover Lane sold to William J. Marshall and Tracey C. Marshall of St. Louis, Mo. from Jonathan Ames of Saddle River, N.J. for $1,950,000. The property's assessed value is unavailable. The land bank fee is $39,000. 4. A house on .23 of an acre at 37 Quaise Road sold to Ric Calvillo of Boston, Mass. from Carol A. Thorton of Bonita Springs, Fla. for $1,925,000. The property is assessed at $2,968,500. The land bank fee is $38,500. 5. A house on 2.6 acres at 95 Squam Road sold to Peter H. Dodson, as Trustee of The 95 Squam Road Qualified Personal Residence Trust of Boston, Mass. from Peter H. Dodson, as Trustee of 95 Squam Road Realty Trust of Boston, Mass. for $1,555,620. The property is assessed at $10,335,600. The land bank fee is $31,112.40.
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6. A condominium at 36 South Cambridge St. sold to Marc A. Fergen of Nantucket, Mass. from 36 South Cambridge St., LLC, of Nantucket, Mass. for $900,000. The property is assessed at $914,700. The land bank fee is $18,000.
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7. A vacant lot on a portion of .32 of an acre at 11 Mary Ann Drive sold to Richard J. and Kathryn L. Glidden of Nantucket, Mass. from Shelley M.L. Cronan of Nantucket, Mass. for $172,000. The property is assessed at $611,100. The land bank fee is $3,440.
8. A house on .66 of an acre at 282 Madaket Road sold to Richard Touchette and Marie Dostaler of Montreal, Quebec, Canada for $30,000. The property is assessed at $664,500. The land bank fee is $600.
9. A house on .35 of an acre at 9 Nobska Way sold to John G. Flores and Donna Elle-Flores, Trustees of the Elle-Flores Realty Trust of Nantucket, Mass. from John G. Flores and Donna Elle-Flores of Nantucket, Mass. for less than $100. The property is assessed at $772,000. The land bank exemption is C.
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10. A timeshare period, Interval of Ownership #4F on Lot 866 on Massachusetts Land Court Plan 3092- 109 on Starbuck Road sold to J. Douglas Nisbet, II, Deborah R. Nisbet Sadak and Steve A. Nisbet c/o J. Douglas Nisbet, II for $0. The property's assessed value is unavailable. The land bank exemption is C.
11. A house at 25 Lyons Lane sold to Mary Virginia Costello, Trustee of Article III Trust under James Joseph Costello 1994 QPRT of Wilton, Conn. from Mary Virginia Costello, Trustee of James Joseph Costello 1994 QPRT of Wilton, Conn. for $0. The property is assessed at $1,130,300. The land bank exemptions are C and D.
12. A house at 3 Arbour Way (formerly Tennis Court Road) sold to Alison H. Mosca, Trustee of Arbour Straw Realty Trust of Boston, Mass. from Alison H. Mosca, Trustee of The WBPII Realty Trust of Boston, Mass. for $0. The property's assessed value is unavailable. The land bank exemption is D.
13. A house on 1.2 acres at 5 Arbour Way (formerly Tennis Court Road) sold to Alison H. Mosca, Trustee of Arbour Straw Realty Trust of Boston, Mass. from Alison H. Mosca, Trustee of The WBPII Realty Trust of Boston, Mass. for $0. The property's assessed value is $1,152,000. The land bank exemption is D.
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14. A house on .7 of an acre at 7 Arbour Way (formerly Tennis Court Road) sold to Alison H. Mosca, Trustee of Arbour Straw Realty Trust of Boston, Mass. from Alison H. Mosca, Trustee of The WBPIII Realty Trust of Boston, Mass. for $0. The property's assessed value is $1,032,800. The land bank exemption is D.
15. A house on 1.2 of an acre at 5 Arbour Way (formerly Tennis Court Road) sold to Alison H. Mosca, Trustee of Five Arbour Way Realty Trust of Boston, Mass. from Alison H. Mosca, Trustee of Arbour Straw Realty Trust of Boston, Mass. for $0. The property's assessed value is $1,032,800. The land bank exemption is D.
16. A house on .7 of an acre at 7 Arbour Way (formerly Tennis Court Road) sold to Alison H. Mosca, Trustee of Seven Arbour Way Realty Trust of Boston, Mass. from Alison H. Mosca, Trustee of Arbour Straw Realty Trust of Boston, Mass. for $0. The property's assessed value is $1,032,800. The land bank exemption is D.
17. Ahouse on .52 of an acre at 13 Surfside Road sold to Richard C. Ryder and Kimberly A. Ryder, Trustees of 13 Surfside Road Real Estate Trust of Nantucket, Mass. from Nancy A. Medeiros and Richard C. Ryder, Trustees of Amelia T. Ryder Revocable Trust of Nantucket, Mass. for $0. The property is assessed at $885,500. The land bank exemption is D.
The Nantucket Islands Land Bank gained $226,652.40 in transfer tax fees for the week ending March 31. For 2007, the Land Bank gained an estimated total of $3,484,555.79 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 firsttime 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. I
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