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PROPERTY TRANSFERS
9. A time share period, Interval 20 in Unit A4 in Building A at Brant Point Courtyard Condominium sold to Joseph E. Watts and Ann F. Watts of Westborough, Mass. from Marion W. Brown of Tarrytown, N.Y. for $6,000. The property's assessed value is unavailable. The land bank fee is $120.
11. Ahouse on .46 of an acre at 7 Shady Lane sold to Marvin C. Moses of Snowmass Village, Colo. from Marvin C. Moses and Susan C. Moses of Snowmass Village, Colo. for $0. The property is assessed at $2,776,000. The land bank exemption is C. 12. A house on .46 of an acre at 7 Shady Lane sold to Marvin C. Moses Qualified Personal Residence Trust of Snowmass Village, Colo. from Marvin C. Moses and Susan C. Moses of Snowmass Village, Colo. for $0. The property is assessed at $2,776,000. The land bank exemption is D.
14. A house on 1.3 acres at 59 Monomoy Road sold to Bixler Properties, LLC, Nantucket Series, of Placida, Fla. from David D. Bixler, Jr. and Mary Lou Bixler of Placida, Fla. for $0. The property is assessed at $5,529,500. The land bank exemption is I. 15. A house on 1 acre at 4 Monomoy Creek Road (1/2 interest) sold to Augusta W. Willett Revocable Trust of Vero Beach, Fla. from Augusta W. Willett of Vero Beach, Fla. for $0. The property is assessed at $2,800,500. The land bank exemption is D.
17. A house on .21 of an acre at 4 Hull Lane sold to Robert C. Marko of Fairhaven, Mass. from Robert C. Marko and Valeria A. Marko of Bourne, Mass. for $0. The property is assessed at $816,200. The land bank exemption is K. 18. A house on .10 of an acre at 41 Orange St. sold to Richard R. Kreitler and Robin M, Kreitler, Trustees, of Charlottesville, Va. from Richard R. Kreitler and Robin M, Kreitler of Charlottesville, Va. for $0. The property is assessed at $2,680,900. The land bank exemption is D.
20. Vacant lots on 10, 11 and 12 Hedgebury Lane sold to Michael W. C. Emerson of Duxbury, Mass. from Hedgebury Lane, LLC, of Norwell, Mass. for $0. The properties' assessed values were unavailable. The land bank exemption is J. The Nantucket Islands Land Bank gained $323,548 in transfer tax fees for the week ending Nov. 9. For 2007, the Land Bank gained an estimated total of $14,446,806.41 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,
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).
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