PROPERTY TRANSFERS
Jan. 7, 2008 ~ Jan. 11, 2008
9. A condominium, Unit 3, at 14 Amelia Drive sold to Thomas Kelly of Nantucket, Mass. from Dameano Nominee Trust of Nantucket, Mass. for $490,000. The property is assessed at $941,000. The land bank fee is $9,800.

1. A house on 2.1 acres at 71 Pocomo Road sold to Waypoint, LLC, of Newtown Square, Pa. from John R. Schwanbeck and R. Penelope Scheerer, Trustees of 71 Pocomo Road Realty Trust of Nantucket, Mass. for $8,600,000. The property is assessed at $7,947,500. The land bank fee is $172,000.

10. A condominium, Unit 1 of 5B Pine Tree Road Condominium at 5B Pine Tree Road sold to Nancy Tobias of Nantucket, Mass. from Roger Caruso of Nantucket, Mass. for $395,000. The property's assessed value is unavailable. The land bank fee is $7,900.

11. A timeshare interval, Time Period 25, Unit A-5 in Building A at Brant Point Courtyard Condominium on Swain Street sold to Michele M. Becci of Doylestown, Pa. from Carolyn McCannon of Cambridge, Mass. for $6,000. The property's assessed value is unavailable. The land bank fee is $120.

12. A house on .15 of an acre at 119 Main St. sold to Vanessa L. Green of Littleton, Colo. from Burges M. Green of Littleton, Colo. for $10. The property is assessed at $2,326,000. The land bank exemption is C.

2. A house on .45 of an acre at 64 Hulbert Ave. sold to HA Acquisition, LLC, of London SW1VZNS, England from Sunset Realty Limited Partnership of Rowayton, Conn. for $8,000,000. The property is assessed at $4,819,100. The land bank fee is $160,000.

13. Ahouse on .15 of an acre at 119 Main St. sold to Allison C. Green of Littleton, Colo. from Burges M. Green of Littleton, Colo. for $10. The property is assessed at $2,326,000. The land bank exemption is C.

14. A house on .15 of an acre at 14 Kittiwake Lane sold to Kathleen L. Tracy of Boston, Mass. from Ernerst M. Haddad of Boston, Mass. for $0. The property is assessed at $1,046,800. The land bank exemption is K.

15. Ahouse on .22 of an acre at 98 Baxter Road sold to Janice S. Savery of Sherborn, Mass. from Richard A. Savery of Sherborn, Mass. for $0 The property is assessed at $1,895,600. The land bank exemption is C.

3. Ahouse on .44 of an acre at 31 Sankaty Road sold to Timothy Kelly of New York City, N.Y. from R & D Realty Trust of Milton, Mass. for $3,600,000. The property is assessed at $4,083,800. The land bank fee is $72,000.

16. A vacant lot on .34 of an acre at 3 Cobble Court sold to Karl Ottison and Susan Ottison, Trustees of Random Winds Realty Trust of Nantucket, Mass. from Susan F. Chase nka Susan Ottison of Nantucket, Mass. for $0. The property is assessed at $517,700. The land bank exemption is D.

17. Ahouse on .95 of an acre at 21 Boulevarde sold to Alfred E. Kristensen and Mary Ellen Kristensen of Queensbury, N.Y. from Mary Ellen Kristensen of Queensbury, N.Y. for $0. The property is assessed at $1,520,000. The land bank exemption is C.

The Nantucket Islands Land Bank gained $657,177.61 in transfer tax fees for the week ending Jan. 12. For 2008, the Land Bank gained an estimated total of $998,157.61 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. A building on .03 of an acre at 54 Main St. sold to ReMain 54, LLC, of Nantucket, Mass. from Mary H. Beman of Nantucket, Mass. for $3,200,000. The property is assessed at $2,912,600. The land bank fee is $64,000.

NOTES ON EXEMPTIONS Many of the property transfers recorded with the Land Bank are exempt from the two 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

5. Ahouse, Unit 2, on 2.09 acres at 9 Crow's Nest Way sold to Douglas H. Kennedy of Chappaqua, N.Y. from Colette M. Abbott, Nancy L. Zylstra and Kara M. Busch of Vermillion, S.D. for $3,091,200. The property is assessed at $4,096,500. The land bank fee is $61,824.

the office at 22 Broad St. I

6. A house on 2 acres at 3 Maxey Pond Road sold to Penelope Sheerer and John R. Schwanbeck of Nantucket, Mass. from Darlene Kerr of Syracuse, N.Y. for $2,500,000. The property is assessed at $2,142,300. The land bank fee is $50,000. 7. A house on 2.09 acres at 9 Crow's Nest Way sold to Booya, LLC, c/o Dmytro Fedkowskyj of New York City, N.Y. from Colette M. Abbott, Nancy L. Zylstra and Kara M. Busch of Vermillion, S.D. for $1,738,800. The property is assessed at $4,096,500. The land bank fee is $34,776. 8. A house on .22 of an acre at 98 Baxter Road (36% interest) sold to Richard A. Savery of Sherborn, Mass. from Richard A. Savery, Trustee of Bay Trust 2000 Nominee Trust of Sherborn, Mass. for $1,237,880.40 The property is assessed at $1,895,600. The land bank fee is $24,757.61.