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PROPERTY TRANSFERS
June 18, 2007 - June 22, 2007
1. A house on .18 of an acre at 72 Baxter Road sold to Mary E. McAullife of Alexandria, Va. from Jerome L. Rappaport and Phyllis E. Rappaport of Stuart, Fla. for $2,900,000. The property is assessed at $1,998,400. The land bank fee is $58,000. 2. A house on .18 of an acre at 76 Sankaty Road sold to Joseph W. Manning and Molly Harding of Nantucket, Mass. from Timothy Ross Dalton and Joan Dickinson Dalton of Mechanicsville, Va. for $1,045,500. The property is assessed at $1,907,100. The land bank fee is $12,910 and the exemption is M.
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3. A vacant lot, Lot 113 on a portion .44 of an acre at 13 Doc Ryder Drive sold to Robin L. Manning of Nantucket, Mass. from Ernest R. Davis, Trustee of the Ernest R. Davis Revocable Living Trust of Nantucket, Mass. for $825,000. The entire property is assessed at $779,100. The land bank fee is $16,500.
4. A house on 2 Foxgrape Lane sold to Michelle Johnson and Shayron J. Taylor of Nantucket, Mass. from Rugged Scott, LLC, a Delaware Limited Liability Company of Cambridge, Mass. for $210,000. The property's assessed value is unavailable. The land bank exemption is M.
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5. A house on .11 of an acre at 148 Main St. sold to Irma L. Anapol, Trustee of the IRMA L. ANAPOL Revocable Trust dated Sept. 6, 2000, of North Palm Beach, Fla. from Joel and Irma L. Anapol, husband and wife, of North Palm Beach, Fla. for $1. The property is assessed at $2,323,500. The land bank exemption is C.
6. A house on 2.3 acres at 5 Shawkemo Hills Lane sold to Matthew Sapera of Toronto, Ontario, Canada from Josef E. Fisher and Karen D. Fisher of Boston, Mass. for $0. The property is assessed at $2,587,700. The land bank exemption is B.
7. A timeshare interval, Time Period 42 in Unit C- 7 in Building C at Brant Point Courtyard Condominium on Swain Street sold to Patrice A. Joyce, Trustee of The Patrice A. Joyce Realty Trust of Danvers, Mass. from Patrice A. Joyce of Danvers, Mass. for $0. The property's assessed value is unavailable. The land bank exemption is D. 8. A timeshare interval, Time Period 23 in Unit C- 7 in Building C at Brant Point Courtyard Condominium on Swain Street sold to Patrice A. Joyce, Trustee of The Patrice A. Joyce Realty Trust of Danvers, Mass. from Patrice A. Joyce of Danvers, Mass. for $0. The property's assessed value is unavailable. The land bank exemption is D.
9. A timeshare interval, Time Period 38 in Unit C- 2/3 in Building C at Brant Point Courtyard Condominium on Swain Street sold to Carol A. Connelly and Patrice A. Joyce of Newton Mass. and Danvers, Mass., respectively, from Carol A. Connelly and Patrice A. Joyce of Newton Mass. and Danvers, Mass., respectively, for $0. The property's assessed value is unavailable. The land bank exemption is B.
10. A house on .59 of an acre and .71 of an acre at 1 and 3 Manchester Circle, respectively, sold to James P. and Helen B. Manchester of Nantucket, Mass. from James P. and Helen B. Manchester of Nantucket, Mass. for $0. The properties are assessed at $1,437,400 and $932,700, respectively. The land bank exemption is B.
11. A house on .14 of an acre and .12 of an acre at 13 and 10 Walsh St. sold to Andres Jacobs and Jonanthan Jacobs, as Trustees of 13 Walsh Street Nominee Trust of Meadowbrook, Pa. from Stephen R. Jacobs and Suzanne C. Jacobs of Meadowbrook, Pa. for $0. The properties are assessed at $1,733,100 and $1,672,600, respectively. The land bank exemption is D.
12. A house on .11 of an acre at 11 Kittiwake Lane sold to Jack E. Rossin and I. Patricia Rossin of Newton, Mass. from Blue Fish Properties, LLC, of Nantucket, Mass. for $0. The property is assessed at $1,247,700. The land bank exemption is J.
The Nantucket Islands Land Bank gained $87,410 in transfer tax fees for the week ending June 30. For 2007, the Land Bank gained an estimated total of $6,505,399.70 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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