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PROPERTY TRANSFERS
7. A condominium at 7B Green Meadows sold to Rosalind M. Rank and Robert P. Rank of Nantucket, Mass. from Brian Harris and Elizabeth Harris of Nantucket, Mass. for $350,000. The property's assessed value is unavailable. The land bank exemption is M. 8. Acondominium, Unit 6, at 133F Old South Road sold to Stacy L. Gibbons of Nantucket, Mass. from Katy Merlini of Nantucket, Mass. for $270,000. The property is assessed at $225,900. The land bank exemption is M. 9. Timeshare intervals, Periods 51 and 52 in Unit A-6, Building A, at Brant Point Courtyard Condominium on Swain Street, sold to Brant Point Courtyard Condominium Trust of Nantucket, Mass. from Claire T. Shields of Scituate, Mass. for $20,200. The property's assessed value is unavailable. The land bank fee is $404.
11. A timeshare interval, Period 34 in Unit A-6, Building A at Brant Point Courtyard Condominium on Swain Street, sold to Richard E. Patterson, Jr. and Sara P. Patterson of Clifton Park, N.Y. from Kevin S. Cooman and Nancy P. Cooman of Rochester, N.Y. for $18,000. The property's assessed value is unavailable. The land bank fee is $360. 12. Atimeshare interval, Period 32 in Unit A-2, Building A at Brant Point Courtyard Condominium on Swain Street, sold to Jeffrey Nelson and Jennifer Nelson of Attleboro, Mass. from Richard E. Patterson, Jr. and Sara P. Patterson of Clifton Park, N.Y. for $14,000. The property's assessed value is unavailable. The land bank fee is $280.
15. Atimeshare interval, Period 21 in Unit A-5, Building A at Brant Point Courtyard Condominium on Swain Street, sold to Brant Point Courtyard Condominium Trust of Nantucket, Mass. from Victor R. DeMarco and Susan Clay Gatto of Hampton, N.H. for $12,000. The property's assessed value is unavailable. The land bank fee is $240.
17. Timeshare intervals, Periods 41 and 18 in Unit C-7, Building C at Brant Point Courtyard Condominium on Swain Street, sold to Brant Point Courtyard Condominium Trust of Nantucket, Mass. from William C. Fenstermaker and Jennifer G. Fenstermaker of Falmouth, Mass. for $7,100. The property's assessed value is unavailable. The land bank fee is $284. 18. Timeshare intervals, Period 23 in Unit A-2, Building A at Brant Point Courtyard Condominium on Swain Street, sold to Brant Point Courtyard Condominium Trust of Nantucket, Mass. from John J. Therriault of Nashua, N.H. for $6,100. The property's assessed value is unavailable. The land bank fee is $122. 19. A timeshare interval, Period 49 in Unit A-1, Building A at Brant Point Courtyard Condominium on Swain Street, sold to Brant Point Courtyard Condominium Trust of Nantucket, Mass. from Kenneth J. Mitchell, Patricia A. Mitchell and Joan Moreau of Pascoag, R.I. for $2,200. The property's assessed value is unavailable. The land bank fee is $44. 20. Timeshare intervals, Periods 20 and 21 in Unit D-1, Building D at Brant Point Courtyard Condominium on Swain Street, sold to Brant Point Courtyard Condominium Trust of Nantucket, Mass. from Cecelia A. Wilson of South Pasadena, Fla. for $1,600. The property's assessed value is unavailable. The land bank fee is $64. 21. A house and a business on .29 of an acre at 9 Amelia Drive sold to Nine Amelia Drive, LLC, of Nantucket, Mass. from David E. Webster, Jr. for $1. The property is assessed at $1,960,500. The land bank fee exemption is I. 22. A house on Warren's Landing Road sold to Alan F. Atwood of Nantucket, Mass. from the Fisher's Landing Association, Inc. of Nantucket, Mass. for $0. The property's assessed value is unavailable. The land bank exemption is E. 23. Timeshare intervals, Periods 26, 42 and 48 in Unit A-7, Building Aat Brant Point Courtyard Condominium on Swain Street, sold to Brant Point Courtyard Condominium Trust of Nantucket, Mass. from John C. Miller of Newport News, Va. for $0. The property's assessed value is unavailable. The Nantucket Islands Land Bank gained $151,734 in transfer tax fees for the week ending Sept. 22. For 2007, the Land Bank gained an estimated total of $10,852,517.48 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
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