PROPERTY TRANSFERS
Sept. 3, 2007 - Sept. 7, 2007
1. A house on .83 of an acre at 5 Huckleberry Lane sold to John D. and Kerryanne Loughborough of Wellesley, Mass. from William V. Haddon of Nantucket, Mass. for $7,318,000. The property is assessed at $5,418,800. The land bank fee is $146,360.

PROPERTY LOCATOR

2. A house and a vacant lot on .31 of an acre at 64 and 66 Washington St. sold to the Nantucket Islands Land Bank of Nantucket, Mass. from Richard C. Wolfe of Nantucket, Mass. for $4,690,000. The property is assessed at $3,100,700. The land bank exemption is A. 3. A house on .24 of an acre at 8 Woodbury Lane sold to Ellen Fournier of Paradise Valley, Ariz. from Paul Palandjian, Trustee, Woodbury Lane Eight Nominee Trust of Belmont, Mass. for $4,000,000. The property is assessed at $2,793,400. The land bank fee is $80,000. 4. A house on .11 of an acre at 9 Willard St. sold to Rhoda H. Weinman of Nantucket, Mass. from Simon van den Born and Lisa van den Born of Greenwich, Conn. for $3,200,000. The property is assessed at $2,215,000. The land bank fee is $64,000. 5. A house on .79 of an acre at 135 Wauwinet Road sold to Lisa and Simon van den Born of Greenwich, Conn. from John H. Urner, as Executor of the Will of Page Roth Jamison of Hagerstown, Md. for $3,000,000. The property is assessed at $3,231,100. The land bank fee is $60,000. 6. A commercial building on .29 of an acre at 18 Amelia Drive sold to New England Development/ Nantucket Island Resorts of Newton, Mass. from Kent J. Murphy and Linda J. Murphy, Trustees, of Nantucket, Mass. for $2,050,000. The property is assessed at $1,918,800. The land bank fee is $41,000.

1

7. A house on .24 of an acre at 6 Saratoga Lane sold to Four Saratoga, LLC, of New York City, N.Y. from The Homestead, Inc. of Nantucket, Mass. for $1,470,000. The property is assessed at $980,500. The land bank fee is $29,400. 8. A vacant lot on .23 of an acre at 6 Corby Way sold to Jessica Gage and Michael Day of Nantucket, Mass. from John R. Corby of Nantucket, Mass. for $445,000. The property is assessed at $430,400. The land bank fee is $900 and the exemption is M.

9. A house on .34 of an acre at 11 Roberts Lane sold to James W. Pattison, Sr. and Anna Lynette Pattison of Rio Verda, Ariz. from Michael C. Pattison of Burlingame, Calif. for $76,000. The property is assessed at $777,000. The land bank fee is $1,520 and the exemption is C.

2

10. A house on .35 of an acre at 44 New St., Siasconset sold to Nils R. Berthen and Edith Berthen of Siasconset, Mass. from Edith Berthen of Siasconset, Mass. for $1. The property is assessed at $1,027,400. The land bank exemption is C.

11. A house on 7.2 acres at 12 Washing Pond Road sold to 12 Washing Pond Road Nominee Trust of Painted Post, N.Y. from James B. Flaws and Marcia D. Weber of Painted Post, N.Y. for $0. The property is assessed at $13,103,400. The land bank exemption is D.

12. A house on 1.4 acres at 35 Bartlett Road sold to Nicolle Gross and Ryan Reith of Nantucket, Mass. from William Reith, Executor, Estate of Mary L. Reith, of Nantucket, Mass. for $0. The property is assessed at $823,500. The land bank exemption is E.

13. A house on 1.4 acres at 35 Bartlett Road sold to White Whale, LLC, of Nantucket, Mass. from Nicolle Gross and Ryan Reith of Nantucket, Mass. for $0. The property is assessed at $823,500.

3

14. A house on .14 of an acre at 152 Main St. sold to Mildred N. Taylor, Trustee of the Mildred N. Taylor Trust of Nantucket, Mass. from Mildred N. Taylor, Trustee of the Taylor Nominee Trust of Nantucket, Mass. for $0. The property is assessed at $2,098,400. The land bank exemption is C.

The Nantucket Islands Land Bank gained $423,180 in transfer tax fees for the week ending Sept. 8. For 2007, the Land Bank gained an estimated total of $10,160,563.48 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).

4

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

5

office at 22 Broad St. I

6 7