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PROPERTY TRANSFERS
Nov. 19, 2007 ~ Nov. 23, 2007
6. A vacant lot, Lot 1, at 14 Hinckley Lane sold to Marcia York Butman and Bradford Butman, Trustees of the Butman Family Realty Trust of Falmouth, Mass. from Douglas Abbey and Nancy Abbey, Trustees of Ishamael Trust of San Francisco, Calif. The property's assessed value is unavailable. The land bank fee is $6,160.
 | | 1. A house on 1.8 acres at 1 Baxter Road sold to Atlantic Light, LLC, of Nantucket, Mass. from Joanne S. Gill of Milton, Mass. for $7,000,000. The property is assessed at $8,764,100. The land bank fee is $140,000. |
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7. A house at 6B Folger Ave. sold to Hilary Dufficy Downey of Nantucket, Mass. from Nantucket Homes for People, Inc. of Southborough, Mass. for $242,000. The property's assessed value is unavailable. The land bank fee is $4,840.
8. A house on .46 of an acre at 64 Madaket Road sold to Agnes E. Vasilackis a/k/a Nancy Vasilackis, individually, (wife), of Bedford, Mass. from Andrew D. Vasilackis and Agnes E. Vasilackis a/k/a Nancy Vasilackis, husband and wife, of Bedford, Mass. for $1. The property is assessed at $1,169,400. The land bank exemption is C.
 | | 2. A house on .16 of an acre at 3 Fair St. sold to Gary A. Winn of Nantucket, Mass. from Andrea Lee Osbon of Boston, Mass. for $4,322,500. The property is assessed at $2,283,800. The land bank fee is $86,450. |
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9. A house on .28 of an acre at 24 Tashama Lane sold to Brenda L. MacDonald, trustee of the Brenda L. MacDonald Revocable Living Trust of Fort Pierce, Fla. From Brenda L MacDonald, Trustee of FB Realty Trust of Fort Pierce, Fla. For $1. The property is assessed at $872,400. The land bank exemption is D.
10. A house on .24 of an acre at 13 Alexandia Drive sold t R.F. and R.M., LLP of Hyannis, Mass. from Richard M. Scudder and Frederic F. Scudder, II, as surviving partners d/b/a R.F. and R.M. Partnership of Hyannis, Mass. for $0. The property is assessed at $753,800. The land bank exemption is I.
11. A half-interest in a house on .08 of an acre at 40 Liberty St. sold to Peter D. Hicks of Nantucket, Mass. from Lucile G. Hicks of Connecticut for $0. The property is assessed at $2,540,000. The land bank exemption is C.
 | | 3. A house on .11 of an acre at 17 Lily St. sold to Seventeen Lily Nantucket, LLC, of Boston, Mass. from Gary Winn of Nantucket, Mass. for $2,865,000. The property is assessed at $2,299,600. The land bank fee is $57,300. |
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12. A house on .08 of an acre at 40 Liberty St. sold to Peter D. Hicks and Jeanne Hicks of Nantucket, Mass. from Peter D. Hicks of Nantucket, Mass. for $0. The property is assessed at $2,540,000. The land bank exemption is C.
13. A house on .31 of an acre at 16 Winn St. sold to Robert W. Lamm and Joy Elizabeth Lamm, Trustees of the Lamm Family Trust of Santa Monica, Calif. from Robert W. Lamm and Joy E. Lamm of Santa Monica, Fla. for $0. The property is assessed at $1,065,100. The land bank exemption is D.
The Nantucket Islands Land Bank gained $321,550 in transfer tax fees for the week ending Nov. 24. For 2007, the Land Bank gained an estimated total of $14,930,202.41 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, 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.
 | | property is assessed at $1,210,200. The land bank fee is $22,800 |
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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).
 | | 5. A house on .91 of an acre at 59 Hummock Pond Road sold to Edward F. King and Tammy L. King of Nantucket, Nantucket, Mass. from Edward Francis King and Patricia Theresa King, Trustees of the Ginger Trust of Nantucket, Mass. for $600,000. The land bank fee is $4,000 and the exemption is M. |
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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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