PROPERTY TRANSFERS June 11, 2007 - June 15, 2007
1. A house on 1 acre at 30 Bassett Road sold to James L. Phillips, Jr. of Darien, Conn. from Stephan A. Sohn, Trustee of 30 Bassett Road Nominee Trust of Newton, Mass. for $3,800,000. The property is assessed at $3,118,100. The land bank fee is $76,000. 2. A house on .30 of an acre at 17 Surfside Road sold to Scott T. O'Connor of Nantucket, Mass. from Richard C. Ryder and Nancy G. Ryder, Trustees of the Ryder Family Nominee Trust of Nantucket, Mass. for $950,000. The property is assessed at $907,300. The land bank fee is $19,000. 3. A house on .11 of an acre at 6 West York Lane sold to Saul J. Aron and Leslie Linsley Aron of Nantucket, Mass. from Barbara Van Winkelen of Poquonock, Conn. for $850,000. The property is assessed at $973,700. The land bank fee is $17,000.

4. Ahouse on .23 of an acre at 17 Arlington St. sold to Kevin J. Allegrini and Alisa Leib Allegrini of Nantucket, Mass. from Michael P. Conena, Trustee of the Conena Trust, of East Sandwich, Mass. for $749,000. The property is assessed at $746,300. The land bank fee is $14,980. 5. A house on .12 of an acre at 110A Orange St. sold to Michael Conena of East Sandwich, Mass. from Paul S. Jensen, Trustee of Cattail Realty Trust of Nantucket, Mass. for $740,000. The property is assessed at $1,138,200. The land bank fee is $14,800. 6. Two houses on .24 of an acre at 4 Trotter's Lane sold to Three Trotter's Lane, LLC, a Mass limited liability company, of Nantucket, Mass. from Lawson H. Billings, Jr. Trustee and Marjorie L. Cole Billings, Trustee, of Lakeville, Mass. for $670,000. The property is assessed at $797,700. The land bank fee is $13,400.

7. A house at 4B Goldfinch Drive sold to 4B Goldfinch Drive, LLC c/o Rudolf Rottmeier/Manager, of Ponce Inlet, Fla. from Alisa Leib and Kevin J. Allegrini of Nantucket, Mass. for $630,000. The property is assessed at $578,800. The land bank fee is $12,600.

8. A house on .09 of an acre at 8 Derrymore Road sold to Dennis P. Sullivan and Mary Ellen Sullivan of Springfield, Va. from Mary Ellen Sullivan f/k/a Mary Ellen Yost of Springfield, Mass. for $1. The property is assessed at $1,075,000. The land bank exemption is C.

9. A house on .23 of an acre at 8 Gold Star Drive sold to John F. Meilbye, Jr. Trustee of the John F. Meilbye, Jr. Trust of Merritt Island, Fla. from John F. Meilbye, Jr. of Merritt Island, Fla. for $0. The property is assessed at $678,000. The land bank exemption is D.

10. A house on 8.9 acres at 8 Skyline Drive sold to Charlene B. Englehard of Concord, Mass. from Edward Beimfohr, Trustee of Eight Skyline Drive Nominee Trust of Florham Park, N.J. for $0. The property is assessed at $3,613,000. The land bank exemption is D. 11. A house on .29 of an acre on Esther Island sold to Bruce W. Manternach, Jr. of Nantucket, Mass. transferred to Bruce W. Manternach of Avon, Conn. as a gift. The property is assessed at $7,300. The land bank fee exemption is C.

12. A house on .46 of an acre at 1 Little Isle Lane sold to 1 Little Isle Lane Cooperative, Inc. of Nantucket, Mass. from Durvan C. Lewis and Maria Henry-Lewis of Nantucket, Mass. for $0. The property is assessed at $838,700. The land bank exemption is D.

13. A house on .46 of an acre at 1 Little Isle Lane sold to Durvan C. Lewis and Maria Henry- Lewis of Nantucket, Mass. from 1 Little Isle Lane Cooperative, Inc. of Nantucket, Mass. from for $0. The property is assessed at $838,700. The land bank exemptions do not apply to this transfer.

14. A house on .82 of an acre at 89 Hinsdale Road sold to John R. Walsh, Jr. and Wendy McRae of Nantucket, Mass. from John R. Walsh, Jr. of Nantucket, Mass. for $0. The property is assessed at $794,100. The land bank exemption is C.

15. A house at 110A Orange St. sold to Michael T. Gunson and Thomas F. Kennelly of Nantucket, Mass. from Paul S. Jensen, Trustee of Cattail Realty Trust of Nantucket, Mass. for $0. The property's assessed value is unavailable. The land bank exemption is D.

The Nantucket Islands Land Bank gained $167,780 in transfer tax fees for the week ending June 21. For 2007, the Land Bank gained an estimated total of $6,016,819.70 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.

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.