PROPERTY TRANSFERS Aug. 20, 2007 - Aug. 24, 2007
1. A house on 2.3 acres at 45 Monomoy Road sold to David Wecker and Monique Parsons et al of Glencoe, Ill. from Donna K. Cooper, Trustee of DKC Nominee Trust of Nantucket, Mass. for $6,700,000. The property is assessed at $8,023,200. The land bank fee is $134,000.

2. A house on .07 of an acre at 4 Flora St. sold to 4 Flora Nominee Trust of Chestnut Hill, Mass. from Patricia Rossin and Sharon Hubbard of Nantucket, Mass. for $3,100,000. The property is assessed at $1,858,900. The land bank fee is $62,000.

3. A house on .94 of an acre at 23 Brewster Road sold to James A. Fuller of Needham, Mass. from Douglas Young of Los Angeles, Calif. for $2,750,000. The property is assessed at $1,382,900. The land bank fee is $55,000.

4. A house on 2.7 acres at 8 Crestwood Circle sold to Mark F. Norris and Elizabeth A. Norris of Nantucket, Mass. from Mr. and Mrs. Clealand B. Blair, Jr. and Teresa and Robert Kenney of Ruland, Mass. for $1,300,000. The property is assessed at $1,199,500. The land bank fee is $26,000.

5. A house on .63 of an acre at 18 South Shore Road sold to Nantucket Homes for People, Inc. of Southboro, Mass. from Thomas F. Riche of Nantucket, Mass. for $512,000. The property is assessed at $771,300. The land bank exemption is G.

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6. A condominium, Unit 5B Park Circle, sold to Peter John Loughman, III and Brianne Cobb Loughman of Nantucket, Mass. from Carl Nielsen of Wayne, N.J. for $485,000. The property's assessed value is unavailable. The land bank fee is $1,700 and the exemption is M.

7. A timeshare interval in Unit A-8 in Building A at Brant Point Courtyard Condominium on Swain Street sold to Keith C. Humphreys and Marie S. Humphreys of Stampford, Conn. for $14,500. The property's assessed value is unavailable. The land bank fee is $290.

8. Timeshare periods, Intervals 8 and 9 in Unit C at the Mariner House Condominium at 30C. Centre St. sold to Daniel Hannon of Manchester By The Sea, Mass. from Robert J. and Gail S. Garon of Shaker Heights, Ohio for $9,000. The property's assessed value is unavailable. The land bank fee is $180.

9. A house on .45 of an acre at 5 Golfview Drive sold to Sandra Byrne Anastasio, Trustee of SBA Realty Trust of Nantucket, Mass. from Sandra B. Anastasio of Nantucket, Mass. for less than $100. The property is assessed at $1,009,400. The land bank exemption is D. 10. A house on .56 of an acre at 24 Naushon Way sold to Hamblin Family Trust, Gary S. and Roberta G. Hamblin of Nantucket, Mass. from Gary S. Hamblin and Roberta G. Hamblin of Nantucket, Mass. for $1. The property is assessed at $1,129,300. The land bank exemption is D.

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11. A house on .15 of an acre at 67 Goldfinch Drive sold to The Nantucket Trust, Darcie L. Evans and Phyllis R. Scattergood of Nantucket, Mass. from Darcie L. Evans and Phyllis R. Scattergood of Nantucket, Mass. for $1. The property is assessed at $868,800. The land bank exemption is D.

12. A house on .25 of an acre at 22 Hooper Farm Road sold to The Hooper Farm Road Trust of Nantucket, Mass. from Darcie L. Evans of Nantucket, Mass. for $1. The property is assessed at $793,500. The land bank exemption is D.

13. A house on 5.1 acres at 52 Eel Point Road sold to William M. Schaefer, Jr. and Joy C. Teal of Loudonville, N.Y. from William M. Schaefer, Jr. and Joy C. Teal of Loudonville, N.Y. for $0. The property is assessed at $4,752,600. The land bank exemption is C.

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14. A house on .23 of an acre and .55 of an acre at 66 Hooper Farm Road and 68 Hooper Farm Road, respectively, sold to John A. Keane an Caroline Montgomery of Nantucket, Mass. from John A. Keane of Nantucket, Mass. for $0. The properties are is assessed at $732,200 and $947,000, respectively. The land bank exemption is C.

15. Ahouse on .11 of an acre at 4 First Way sold to Bazhen S. Lapenko of Nantucket, Mass. from Radmila Soklakova of Nantucket, Mass. for $0. The property is assessed at $408,100. The land bank exemption is C.

16. Vacant lots on 1.2 acres, .12 of an acre, .07 of an acre, .09 of an acre, .07 of an acre, .11 of an acre and .07 of an acre at 315 Milestone Road, 15 Lily St., Siasconset, 16 Lily St., Siasconset, 17 Lily St., Siasconset, 18 Lily St., Siasconset, 7 Lily St., Siasconset and 9 Lily St., Siasconset sold to Eben Hutchenson, Jr. and Lois M. Hutchenson of Chelsea, Mass. from the Loeb Nominee Trust of Chelsea, Mass. for $0. The properties are assessed at $1,646,900, $1,330,700, $1,203,400, $1,018,000, $961,000, $1,355,000 and $1,091,300, respectively. The land bank exemption is D.

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17. A house on .12 of an acre at 29 Goldfinch Drive sold to Antoinette Brescher, Trustee of the Antoinette Brescher 207 Qualified Personal Residence Trust of Pottersville, N.J. from Antoinette Brescher of Pottersville, N.J. for $0. The property is assessed at $1,056,700. The land bank exemption is C.

18. A house on .18 of an acre at 8 Second Way sold to Richard D. Moore and Venessa K. Moore of Nantucket, Mass. from Richard D. Moore and Venessa K. Moore of Nantucket, Mass. for $0. The property is assessed at $898,800. The land bank exemption is B.

The Nantucket Islands Land Bank gained $279,170 in transfer tax fees for the week ending Aug 25. For 2007, the Land Bank gained an estimated total of $8,790,583.48 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.