PROPERTY TRANSFERS
June 4, 2007 - June 8, 2007
1. Houses on .28 acres at 24 and 26 Youngs Way sold to Nantucket Cottage Hospital from Stephen A. Young of Amherst, Mass. for $2 million. The properties are assessed at $1,253,700. The Land Bank exemption is G. 2. A house on .12 acre at 40 Goldfinch Drive sold to Carolyn Wells of Branford, Conn. From James and Michelle Connor of Easton, Conn. for $1,650,000. The property is assessed at $1,406,800. The Land Bank fee is $33,000. 3. A house on .14 acre at 52 Cliff Rd. sold to Matthew G. Fee and Sheila C. Fee of Nantucket from Richard and Alida Storer of Georgetown, Mass. for $1,495,000. The property is assessed at $1,888,000. The Land Bank fee is $29,900.

4. A house on .24 acre at 3 Dolphin Ct sold to Dolphin Court, LLC from Richard Parvey and C. Bradford Jackson, trustees of Dolphin Court Realy Trust for $1,250,000. The property is assessed at $2,361,500. The Land Bank fee is $25,000. 5. A house on .40 acres at 17 Gray Ave. sold to Laura and J. D. Bessey from Karen Gibbs and Thomas Larrabee for $1,100,000. The property is assessed at $1,102,900. The Land Bank fee is $22,000. 6. A house on .47 acres at 13 Sandpiper Way sold to Maureen Heher of Essex, Conn., from Rober and Mary Allen of Cohasset, Mass. for $999,000. The property is assessed at $970,600. The Land Bank fee is $19,980. 7. A house on .16 acres at 20 Bluebird Lane sold to Liza Cousins of Goshen, N.Y., from Niles and Sonja Parker for $845,000. The property is assessed at $1,161,500. The Land Bank fee is $16,900.

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8. A condominium unit at 4AWitherspoon Dr. sold to Robert and Kathleen Hay from Deanna Kaschuluk for $683,000. The Land Bank fee is $13,660.

9. A house at 11 Wood Lily Road sold to Frederick Wellington from Rugged Scott LLC for $228,000. The Land Bank exemption is M.

10. A vacant lot on .11 acres at 2 Rhode Island Ave. sold to Daniel F. Knise of McLean, Va., from Richard L. and L. David Bartholomew for $140,000. The property is assessed at $1,257,750. The Land Bank fee is $2,800.

11. An interval interest in Starbuck #751 on Starbuck Road sold to Irene Pelak, trustee of Pelak Realty Trust from Joseph H. Forman, executor of the estate of Amanda Gobb, for $130,000. The Land Bank fee is $2,600.

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12. An interval interest in Brant Point Courtyard, Building C, sold to Russell and Kathryn Scarlata from Christopher and Jullie Quinn for $8,543.30. The Land Bank fee is $170.87.

13. A house on .46 acres at 30 Meadowview Dr. sold to Robert C. Hicks Jr. and Gayle L. Fisher from Robert C. Hicks Jr. for $1. The property is assessed at $1,292,600. The Land Bank exemption is C.

14. A house on .08 acres at 3 Daves St. sold to Elena A. H. Wesenberg from Patricia Hoskins for $1. The property is assessed at $552,600. The land Bank exemption is C.

15. A house on .33 acres at 5 First Way sold to Linda True and Gail Avery, trustees, 5 First Way Realty Trust from Calvin and Marjorie Avery for $1. The property is assessed at $726,300. The Land Bank exemption is C. 16. A house on .05 acres at 14 Darling St. sold to Stephen K. Minus from Nancy DeWitt Minus for $1. The property is assessed at $1,798,100. The Land Bank exemption is D.

17. A house at 14 Darlin St. sold to Margaret Altreuter and Judith Altreuter from Nancy DeWitt Minus for $1. The Land Bank exemption is C.

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18. Vacant Land at 38, 40 and 42 Polpis Rd sold to 40 Polpis Road, LLC from Stephen M. Slosek for $1. The Land Bank exemption is I.

19. Vacant Land on 1.16 acres at 44 Polpis Rd. sold to 40 Polpis Road, LLC from Abigail H. Wullschleger for $1. The property is assessed at $906,500. The Land Bank exemption is I.

20. Aportion of 10 and 10R North Beach St. sold to Richard Parvey and C. Bradford Jackson, trustees, Dolphin Court Homeowner's Trust from Richard Parvey and C. Bradfordford Jackson for $0. The Land Bank exemption is C.

21. A house on .15 acres at 22 Woodbury Lane sold to 22 Woodbury Lane Nominee Trust from Marjorie C. Baker for $1. The property is assessed at $2,061,200. The Land Bank exemption is D.

22. An interval interest in 44 Starbuck Road sold to Richard Touchette and Marie Dostaler from Richard Touchette for $0. The Land Bank exemption is B.

23. A house on .10 acres at 6 Pleasant St. sold to Herbert W. Marache III and Baren B. Marache from Herbert W. Marache III for $0. The property is assessed at $2,366,700. The Land Bank exemption is D.

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24. A house on .32 acres at 5 Somerset Rd. sold to William R. Voss from William Richard Voss Trust for $0. The Land Bank exemption is D.

25. A condominium at 80 Somerset Rd sold to Blackfin, LLC from Cassidy Family Trust for $0. The property is assessed at $447,400. The Land Bank exemption is B.

26. A condominium at 74 Somerset Rod sold to Paul R. Senecal, trustee of the Maria F. Senecal Testamentary Trust from Catherine E. Conte, trustee Cassidy Family Trust for $0. The property is assessed at $440,800. The Land Bank exemption is D.

27. A condominium at 72 Somerset Rd. sold to Cassidy Family Trust from Blackfin, LLC for $0. The property is assessed at $371,800. The Land Bank exemption is B.

28. A house on 1.21 acres at 24 Grove Lane sold to Robert DeC. Ward and Margaret M.E. Ward from the Robert Ward Realty Trust for $0. The property is assessed at $1,561,000. The Land Bank exemption is D.

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29. A house on 1.70 acres at 142 Miacomet Ave. sold to Jo Anne Ziebarth, Michael Ziebarth, Susan Delaporte and Amy Ziebarth from Jack A. Ziebarth, trustee of Ziebarth Nominee Trust for $0. The property is assessed at $3,126,600. The Land Bank exemption is D.

30. A house on 1.84 acres on 6 Evergreen Way sold to Yolanda J. Maxwell and Craig E. Taylor from Edward D. Maxwell for $0. The property is assessed at $1,168,700. The Land Bank exemption is K.

The Nantucket Islands Land Bank gained $166,010.87 in transfer tax fees for the week ending June 9. For 2007, the Land Bank gained an estimated total of $5,849,039.70 in transfer fees. Land bank income is derived mostly from the collection of a twopercent 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.

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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.

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