PROPERTY TRANSFERS

5. Apartial interest in a timeshare period, Interval 9 in Unit F in the Mariner House Condominium at 30 Center St. sold to Michelle Venya of Laguna Beach, Calif. from Richard T. Spotz and Terrance C. Sullivan, Executors of the Estate of John L. Lohrman of Cleveland, Ohio for $8,000. The property's assessed value is unavailable. The land bank fee is $160. 6. Ahouse on .24 of an acre at 58 Hooper Farm Road sold to Luke Thornewill and Caroline S. Thornewill of Nantucket, Mass. from Lyon's Crib Realty Trust u.d.t dated June 16, 2006, of Nantucket, Mass. for $1. The property is assessed at $430,400. The land bank exemption is D.

1. A house on .31 of an acre at 5 Kite Hill Lane sold to Andy Boszhardt of New York City, N.Y. from Elizabeth Raith of Nantucket, Mass. for $4,050,000. The property is assessed at $2,340,300. The land bank fee is $81,000. 7. A timeshare period, Interval 15F at Tristram's Landing on South Cambridge Street sold to Dorretta M. Richardson (mother) of New Providence, N.J. sold to Lloyd M. Richardson (son) of Arlington, Mass. for $1. The property's assessed value is unavailable. The land bank exemption is C.

2. A house on .56 of an acre at 3 Moby Way sold to David J. Picher and Suzanne N. Picher of Wellesley, Mass. from Brian J. Strachan and Aleece M Strachan of Wellesley, Mass. for $1,995,000. The property is assessed at $1,868,900. The land bank fee is $39,900. 8. A timeshare period, Interval 15F at Tristram's Landing on South Cambridge Street sold to Rebecca Catherine Del Piano (granddaughter) of Flemington, N.J. sold to Dorretta M. Richardson (grandmother) of Arlington, Mass. for $1. The property's assessed value is unavailable. The land bank exemption is C.

9. A house on .80 of an acre at 14 Brant Point Road sold to Anna Fisch of Nantucket, Mass. from Steven Fisch, Trustee of Fourteen Brant Point Road Nominee Trust of Short Hills, N.J. for $0. The property is assessed at $3,249,800. The land bank exemption is K.

10. Ahouse on .23 of an acre at 5 Brinda Lane sold to Mildred Ann O'Connor of Nantucket, Mass. from Estella H. Empey of Sherborn, Mass. for $0. The property is assessed at $1,118,300. The land bank exemption is C.

3. A house on .11 of an acre at 3 North Gully Road sold to S. Ward Casscells and Roxanne Casscells of Washington, D.C. from Frank Edward Wade Green, Trustee of Wade Cottages Nominee Trust of New York City, N.Y. for $1,100,000. The property is assessed at $1,042,300. The land bank fee is $22,000. 11. A business on .08 of an acre at 1 Old North Wharf sold to Patience E. Killen of Nantucket, Mass. from Bank of America, N.A. & Ann S. Killen, Trustees, of Nantucket, Mass. for $0. The property is assessed at $1,788,300. The land bank exemption is D.

The Nantucket Islands Land Bank gained $103,160 in transfer tax fees for the week ending March 1. For 2008, the Land Bank gained an estimated total of $2,128,336.01 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.

4. Vacant lots on .34 of an acre and .34 of an acre at 107 Hummock Pond Road and 109 Hummock Pond, respectively, sold to the Nantucket Islands Land Bank of Nantucket, Mass. from Thomas Miller of Naples, Fla. for $400,000. The properties are assessed at $836,100 and $291,600, respectively. The land bank exemption is A. 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: www.nantucketlandbank.

org. Or visit the office at 22 Broad St. I