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PROPERTY TRANSFERS
July 16, 2007 - July 20, 2007
1. A house on 1.01 acres at 29 Baxter Road sold to Insight Baxter, LLC, of Newton, Mass. from Louise Ritchie Beale, William Ludlow Ritchie, Jr. and C. Jackson Ritchie, Jr., Executors under the will of Eleanor Preston Ritchie of 'Sconset, Mass. for $4,950,000. The property is assessed at $7,373,400. The land bank fee is $99,000. 2. A house on .11 of an acre at 29 Bosworth Road sold to 29 Bosworth Road Realty Trust of New York City, N.Y. from Warren Adleson and Jan P. Adleson of Scarborough, N.Y. for $3,825,000. The property is assessed at $1,415,100. The land bank fee is $76,500. 3. Ahouse on .15 of an acre at 20 Cliff Road sold to Twenty Cliff Nantucket, LLC, of Boston, Mass. from Norman V. Lewis of Louisville, Ky. for $3,175,000. The property is assessed at $2,504,500. The land bank fee is $63,500.
4. A house on .12 of an acre at 16 Vestal St. sold to Michael Bowen and Dabney N. Bowen of Fairfield, Conn. from Michael F. Angelastro and Joanne D. Angelastro, Trustees of Angelastro Family Investment of Nantucket, Mass. for $1,445,000. The property is assessed at $1,975,000. The land bank fee is $28,900. 5. A garage on .12 of an acre at 15 Evelyn St., Siasconset sold to John A. Hilton, Jr. and Julia H. Hilton of New York City, N.Y. from the Estate of Marion S. Magid, Allen E. Ottoson, Executor, of Boston, Mass. for $1,375,000. The property is assessed at $1,096,800. The land bank fee is $27,500. 6. A house on .20 of an acre at 10 Lincoln St. sold to Alison Sweet Zieff, Trustee of Ten Lincoln Street Nominee Trust of Nantucket, Mass. from Charles A. Field, Trustee of the Field Family Trust of 'Sconset, Mass. for $1,000,000. The property is assessed at $1,168,000. The land bank fee is $20,000. 7. A house on .13 of an acre at 17 West Chester St. sold to 17 West Chester Street, LLC, of Wilmington, Del. from Homefront Renovations, LLC, of Darien, Conn. for $900,000. The property is assessed at $1,816,100. The land bank fee is $18,000. 8. A house on .23 of an acre at 11 Appleton Road sold to Grover Hull and Joan Hull of Nantucket, Mass. from Christopher Michael Rowell and Shelley- Jo Talvacchia of Nantucket, Mass. for $715,000. The property is assessed at $682,800. The land bank fee is $14,300.
9. A vacant lot on .36 of an acre at 65 West Chester St. sold to Melissa Brooks MacVicar and Seth Brooks of Nantucket, Mass. from Richard H. Brooks and Susan G. Brooks of Nantucket, Mass. for $1. The property is assessed at $934,300. The land bank exemption is C. 10. Ahouse on .41 of an acre at 5 Raceway Drive sold to Timothy T. Taaffe and Meredith L. Macklin Taaffe, Trustees, of Nantucket, Mass. from Timothy F. Taaffe, Trustee, of Nantucket, Mass. for $1. The property is assessed at $1,147,500. The land bank exemption is C.
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11. A vacant lot on 14 Nonantum Ave. sold to 14 Nonantum Avenue, LLC, a Massachusetts limited liability company, of Nantucket, Mass. from Elaine R. Winer of Miami Beach, Fla. for $1. The property is assessed at $1,756,600. The land bank exemption is I.
12. A house on .41 of an acre at 12 Clifton St. sold to Lucille Sanguinetti and those claiming by, through & under her by virtue of instrument recorded at Nantucket Registry of Deeds Book 111, Page 435, of Siasconset, Mass. from the Town of Nantucket, Mass. for $0. The property is assessed at $1,216,500. The land bank exemption is B.
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13. A house on .17 of an acre at 82 Cliff Road sold to Lisa D. Treanor of Bernardsville, N.J. from Michael R. Treanor, Jr. and Lisa D. Treanor of Bernardsville, N.J. for $0. The property is assessed at $2,881,900. The land exemption is C.
14. Ahouse on .46 of an acre at 19 Arkansas Ave. sold to Beverly A. Ferguson, Trustee of the Beverly A. Ferguson Revocable Trust of Plainville, Mass. from Beverly A. Ferguson of Plainville, Mass. for $0. The property is assessed at $805,800. The land bank exemption is C.
15. Ahouse on .12 of an acre at 29 Union St. sold to Whitney A. Gifford, Trustee of 29 Union Street Nominee Trust of Nantucket, Mass. from Hamilton Heard, of Nantucket, Mass. for $0. The property is assessed at $2,301,300. The land bank exemption is D.
16. Avacant lot, Lot 2, on .51 of an acre on a portion of 7 Pitman Road sold to Deborah C. Belichick of Weston, Mass. from William S. Belichick and Deborah C. Belichick of Weston, Mass. for $0. The property is assessed at $1,378,000. The land bank exemption is K. 17. Avacant lot, Lot 2, on .51 of an acre on a portion of 7 Pitman Road sold to William S. Belichick and Deborah C. Belichick of Weston, Mass. from William S. Belichick and Deborah C. Belichick of Weston, Mass. for $0. The property is assessed at $1,378,000. The land bank exemption is K.
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18. A house on .11 of an acre at 8 Gull Island Lane sold to Gary S. McBournie and William J. Richards of Boston, Mass. from Exchange One Charles Street, LLC, of Newton, Mass. for $0. The property is assessed at $1,456,500. The land bank exemption is D.
The Nantucket Islands Land Bank gained $347,700 in transfer tax fees for the week ending July 21. For 2007, the Land Bank gained an estimated total of $7,318,981.91 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
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