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PROPERTY TRANSFERS
April 16, 2007 - April 20, 2007
1. A house on 2.3 acres at 3 Pochick Ave. sold to Mary B. McKernan, Trustee of Shore Thing Nominee Trust of Andover, Mass. from Mark Lombardi of Nantucket, Mass. for $4,350,000. The property is assessed at $2,254,800. The land bank fee is $87,000. 2. A house on 1.1 acres at 29 Wigwam Road sold to J.S. Balfour LTD of George Town, Grand Cayman, Cayman Islands from Jason L. Olbres and Nichole L. Marks of Nantucket, Mass. for $2,700,000. The property is assessed at $564,900. The land bank fee is $54,000. 3. A house on .51 of an acre at 20 Creek Lane sold to Greg P. and Bridget St. Pierre of Hingham, Mass. from Edward and Mary Lynn Kerrigan of Etna, N.H. for $1,634,300. The property is assessed at $932,900. The land bank fee is $32,686.
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4. A vacant lot on a portion of .22 of an acre at 2 The Captain's Lane sold to Richard J. Glidden, Trustee of 2 The Captain's Lane Realty Trust, of Armonk, N.Y. from Olive Cynthia Pope and Russell Pope, Trustees of Russell E. Pope Trust of November, 1990, of Nantucket, Mass. for $1,600,000. The entire property is assessed at $2,174,800. The land bank fee is $32,000. 5. A house on .11 of an acre at 49A Pleasant St. sold to Nantucket-Pleasant, LLC, a Massachusetts limited liability company, of Fairfield, Conn. from 49A Pleasant Street, LLC, of Nantucket, Mass. for $1,579,000. The property is assessed at $693,200. The land bank fee is $31,580.
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6. A house on .25 of an acre at 25 Sesapana Road sold to John H. Kaufman of Nantucket, Mass. from Nancy C. Camara of Nantucket, Mass. for $1,125,000. The property is assessed at $216,600. The land bank fee is $22,500. 7. A house on .47 of an acre at 65 Meadow View Drive sold to Mary E. Saffell and Peter B. Boyce of Nantucket, Mass. from Ilse M. Sangree and Walter H. Sangree of Nantucket, Mass. for $1,085,000. The property is assessed at $942,300. The land bank fee is $21,700. 8. A house on .12 of an acre at 4 Curlew Court sold to Janet Schulte, Trustee of the MMA Curlew Court Nominee Trust of Nantucket, Mass. from John S. Husted, C. Richard Loftin and Elizabeth Husted, Trustees of Four Curlew Court Nominee Trust of Westwood, Mass. for $1,000,000. The property is assessed at $884,800. The land bank fee is $13,333.34 and the exemption is F.
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9. A vacant lot on .29 of an acre at 12 Amelia Drive sold to 12 Amelia Drive, LLC, of Nantucket, Mass. from Randy R. Riseborough of Nantucket, Mass. for $800,000. The property is assessed at $402,000. The land bank fee is $16,000.
10. A house at 29D South Shore Road sold to Cara E. Stein of Nantucket, Mass. from Scott E. Corry and Lori L. Corry of Nantucket, Mass. for $633,750. The property is assessed at $350,900. The land bank fee is $4,675 and the exemption is H.
11. A condominium, Unit B, on .11 of an acre at 46 Macy's Lane sold to Jennifer K. Lelle- Merlos of Nantucket, Mass. from Paul Caggiano and Mark Ceppi of Hyannis, Mass. for $538,500. The property's assessed value is unavailable. The land bank fee is $10,770.
12. Avacant lot on .12 of an acre at 71 Hinsdale Lane sold to Paul T. Caggiano of Boston, Mass. from David R. Cox and Charles E. Davis, Jr. for $442,500. The property is assessed at $330,000. The land bank fee is $8,850.
13. A condominium, Unit 2, on .65 of an acre at 3 Dooley Court sold to Peter F. Psaradelis and Jennifer E. Dubois of Nantucket, Mass. from Francis B. and Kathleen N. Psaradelis of Nantucket, Mass. for $150,000. The property is assessed at $658,500. The land bank exemption is M.
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14. A timeshare period, Interval 11F at 848 Tristram's Landing sold to Nancy Koris of Rochester, N.Y. from Jacob G. Liddell of Duxbury, Mass. for $16,500. The property's assessed value is unavailable. The land bank fee is $330.
15. A house on .46 of an acre at 153 Surfside Road sold to Arthur I. Reade, Jr. Trustee of Woodbine Realty Trust, of Nantucket, Mass. from Carl G. Sigourney of North Haven, Conn. for $8,000. The property is assessed at $553,000. The land bank fee is $160.
16. A timeshare period, Interval 11 in Unit F at 30A Centre St. sold to Jacquelyn A. Hawkinson of Lexington, Mass. from Lowell B. Hawkinson and Jacquelyn A. Hawkinson of Belmont and Lexington, Mass. for $1. The property's assessed value is unavailable. The land bank exemption is K.
17. Timeshare periods, Interval 18 and 19 in Unit F at 30A Centre St. sold to Lowell B. Hawkinson of Belmont, Mass. from Lowell B. and Jacquelyn A. Hawkinson of Belmont and Lexington, Mass. for $1. The property's assessed value is unavailable. The land bank exemption is K.
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18. A house on 2.3 acres at 21 Skyline Drive sold to Patrick Woodley Hancock and Kristina Maria Kinsley Hancock of Nantucket, Mass. from Patrick Woodley Hancock, a/k/a Patrick H. Woodley of Nantucket, Mass. for $1. The property is assessed at $1,373,200. The land bank exemption is C.
19. A house on .88 of an acre at 60R Hummock Pond Road sold to T. Scott Jube of Nantucket, Mass. from T. Scott Jube and Prudence M. Duff Jube of Nantucket, Mass. for $1. The property is assessed at $1,098,700. The land bank exemption is K.
20. Houses on 2.9 acres at 34 Milestone Road, 1, 3, 7 and 9 Morey Lane sold to Huntington T. Block Trust U/A dated November 22, 1991, as restated on April 9, 2007, H.T. Block trustee of Washington, D.C. from Huntington T. Block of Washington, D.C. for $0. The properties' assessed values are unavailable. The land bank exemption is C.
21. A house on .05 of an acre at 58 Orange St. sold to Susan Ann Phippen, Trustee of the Susan Ann Phippen Trust, dated September 4, 2001, as amended and restated on April 11, 2007, of Scituate, Mass. from Susan A. Phippen of Scituate, Mass. for $0. The property is assessed at $1,332,400. The land bank exemption is D.
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22. Ahouse on 1.8 acres at 75 Hulbert Ave. sold to Dunover, LLC, of Wilmington, Del. from Stephanie B. Speakman and Antonia B.Massie of Greenville, Del. for $0. The property is assessed at $12,877,800. The land bank exemption is I.
23. A house on 1.8 acres at 88 Madaket Road sold to Frank H. Ginn and Margaret G. Ginn of Winnetka, Ill. from Frank H. Ginn and Margaret G. Ginn of Winnetka, Ill. for $0. The property is assessed at $1,721,800. The land bank exemption is B. 24. Two houses and a rental unit on .15 of an acre at 159 Main St. sold to Harry Caleb Payne, II, of Cheshire, Conn. from Harry Caleb Payne, II, Executor for Francis Kermit Payne and J. Beatrice Payne of Cheshire, Conn. for $0. The property is assessed at $1,153,900. The land bank exemption is E.
25. A house on .11 of an acre at 18 Coffin St. sold to Jeffrey H. Wengrovious and Barbara N. Wengrovious, Trustees of the Barbara N. Wengrovious Trust (50% interest), of Scotia, N.Y. from Jeffrey H. Wengrovious and Barbara N. Wengrovious of Scotia, N.Y. for $0. The property is assessed at $1,665,300. The land bank exemption is D.
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26. A house on .03 of an acre at 5 Folger's Court sold to Sconset Holdings, LLC, of Boston, Mass. from Cheryl Delgreco of Boston, Mass. for $0. The property is assessed at $975,800. The land bank exemption is D.
27. A house on .40 of an acre at 27 Tashama Lane sold to Bette Anne Huyser, Trustee of Bette Ann Huyser Trust UDT February 15, 2005, from Bette Ann Huyser of Nantucket, Mass. for $0. The property is assessed at $628,500. The land bank exemption is D.
28. A partial interest in a timeshare period, Interval 12 in Unit A at Mariner House Condominium at 30 Center St. sold to Christopher Hibshman and Carrie Tomczyk, Trustees of the John G. Hibshman Revocable Trust of Lydonville, Vt. from John G. Hibshman of Lydonville, Vt. for $0. The property's assessed value is unavailable. The land bank exemption is D.
29. A house on 3.0 acres at 45 Chuck Hollow Road sold to William E. Learnard and Susan D. Learnard of Philadelphia, Pa. from William E. Learnard and Susan D. Learnard of Philadelphia, Pa. for $0. The property is assessed at $1,735,400. The land bank exemption is B.
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The Nantucket Islands Land Bank gained $335,584.34 in transfer tax fees for the week ending April 21. For 2007, the Land Bank gained an estimated total of $4,517,784.13 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. I
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