PROPERTY TRANSFERS
3. Ahouse at 4 Kinikinnik Way sold to Fernella Phillips 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 exemption is M.

1. A house on 3.7 acres at 23 Cornwall St. sold to Dorinda Yates of Nantucket, Mass. from Linda Yates of Nantucket, Mass. for $1,650,000. The property is assessed at $1,502,100. The land bank fee is $33,000.

4. A house on .14 of an acre at 3B Field Ave. sold to Brian T. and Yin Fitzgibbon 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 exemption is M.

5. A house at 7 Field Ave. sold to Catherine Ancero 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 exemption is M.

6. A timeshare interval on .64 of an acre at 3 Goose Cove Ave. sold to Patricia A. Kelleher and Jill L. McKinney of Brookline, Mass. from Debra L.S. Sidorowicz of Norwood, Mass. for $40,000. The property's assessed value is unavailable. The land bank fee is $800.

2. A house on .09 of an acre and .17 of an acre at 108 Pleasant St. and 110 Pleasant St., respectively, sold to DB Realty Trust of Nantucket, Mass. from Maisie W. Viera, Trustee of the MWV Realty Trust of Nantucket, Mass. for $1,100,000. The properties are assessed at $643,800 and $972,600, respectively. The land bank fee is $22,000.

7. A timeshare interval, Week 41 in Unit A-2 at Brant Point Courtyard Condominium on Swain St. sold to William Debs and Patricia Debs of South Dennis, Mass. from Kevin S. Cooman and Nancy P. Cooman of Rochester, N.Y. for $2,500. The property's assessed value is unavailable. The land bank fee is $50.

8. Avacant lot on .21 of an acre at 10 Salros Road sold to Sally T. Mailloux of Falmouth, Mass. from Stephen A. Mailloux of Nantucket, Mass. for $0. The property is assessed at $412,300. The land bank exemption is K.

9. Ahouse on .65 of an acre at 13 Hawthorne Lane sold to Stephen A. Mailloux of Nantucket, Mass. from Sally T. Mailloux of Falmouth, Mass. for $0. The property is assessed at $1,106,000. The land bank exemption is K.

10. A house on .84 of an acre, .12 of an acre and .13 of an acre at 9 Lincoln Ave., 14 Jefferson Ave. and 16 Jefferson Ave., respectively, sold to Susan C. Hilfiger of Greenwich, Conn. from Thomas J. Hilfiger of Greenwich, Conn. of Greenwich, Conn. for $0. The properties are assessed at $10,217,000, $1,561,600 and $1,563,300, respectively. The land bank exemption is K.

11. A house on 2.1 acres at 8 Boulevarde sold to Rafael E. Osona and Gail E. Osono, tenants in common, of Nantucket, Mass. from Rafael E. Osona and Gail E. Osono as joint tenants, of Nantucket, Mass. for $0. The property is assessed at $2,279,100. The land bank exemption is C.

12. Abusiness on .27 of an acre at 44 Nobadeer Farm Road sold to Rafael E. Osona and Gail E. Osono, tenants in common, of Nantucket, Mass. from Rafael E. Osona and Gail E. Osono as joint tenants, of Nantucket, Mass. for $0. The property is assessed at $810,900. The land bank exemption is C.

13. Ahouse on .20 of an acre at 123 Main St. sold to Margaret Esteban and Fernando Esteban of Nantucket, Mass. from Margaret Estaban of Nantucket, Mass. for $0. The property is assessed at $1,989,800. The land bank exemption is C.

14. Ahouse on .92 acres at 124 Surfside Road sold to Ann L. Webb, Trustee, Ann L. Webb Trust - 2007 (1/2 interest) and David L. Webb, Trustee, David L. Webb Trust - 2007 UDT - (1/2 interest), of Nantucket, Mass. from David L. Webb and Ann L. Webb of Nantucket, Mass. for $0. The property is assessed at $1,990,100. The land bank exemption is D.

15. A studio, Unit 7, on a portion of 118 Orange St. sold to Brent B. Young of Nantucket, Mass. from Brent B. Young and Julie A. Young of Nantucket, Mass. for $0. The property's assessed value is unavailable. The land bank exemption is C.

16. A house on .06 of an acre at 8 North Gully Road sold to 8 North Gulley RD, LLC, of Bedminster, N.J. from Paul and Lauri Berk of Palm Beach, Fla. for $0. The property is assessed at $1,153,100. The land bank exemption is I.

The Nantucket Islands Land Bank gained $55,850 in transfer tax fees for the week ending Dec. 15. For 2007, the Land Bank gained an estimated total of $15,785,194.91 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 firsttime 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. I