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Feb. 11, 2008 ~ Feb. 15, 2008
5. Acondominium on .25 of an acre at 23 Bartlett Road sold to Francisco A. Alfaro and Rosa Hernandez of Nantucket, Mass. from Samuel C. Traywick of West Hyannisport, Mass. for $575,000. The property is assessed at $934,500. The land bank fee is $11,500.
 | | 1. A business on .03 of an acre at 33 Main St. sold to Lawrence M. Maury and Michelle B. Maury of Naples, Fla. from Robert E. Tonkin, Executor, of Nantucket, Mass. for $4,500,000. The property is assessed at $4,205,600. The land bank fee is $90,000. |
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6. A cooperative on .46 of an acre at 21A Evergreen Way sold to Shane D. Nicholls and Pamela W. Nicholls of Nantucket, Mass. from Adam Sabin of Nantucket, Mass. for $228,269.79. The property is assessed at $1,580,600. The land bank fee is $4,565.40.
7. Ahouse on .55 of an acre at 44 Starbuck Road sold to Donna, Mark, Adam, Julie and Rachel Christian of Dudley, Mass. from Donna and Mark Christian of Dudley, Mass. for $1. The property is assessed at $1,306,900. The land bank exemption is B.
8. Ahouse on .18 of an acre at 8 Washington Ave. sold to Vincent Scott Pascucci (aka Scott Pascucci) Trustee of the Vincent Scott Pascucci 2007 Revocable Trust of Malibu, Calif. from Scott Pascucci of Nantucket, Mass. for $1. The property is assessed at $1,249,200. The land bank exemption is D.
 | | 2. A house on .82 of an acre at 110 Baxter Road sold to Patrick T. Ryan, Trustee, of Beverly Farms, Mass. from Peter Wise of Greenwich, Conn. for $3,450,000. The property is assessed at $3,415,000. The land bank fee is $69,000. |
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9. Acooperative on .46 of an acre at 21 Evergreen Way sold to the 21 Evergreen Way Cooperative Corporation of Nantucket, Mass. from Adam Sabin of Nantucket, Mass. for $0. The property is assessed at $1,580,600. The land bank exemption is I.
10. A house on .06 of an acre at 5 Coon St. sold to Penelope A. MacDonald and Heidi E. MacDonald, Trustees of the Penelope A. MacDonald Revocable Trust u/a/dtd June 28, 1983, of Wellesley Hills, Mass. from Penelope A. MacDonald of Wellesley Hills, Mass. for $0. The property is assessed at $1,286,100. The land bank exemption is D.
11. A bulding on .06 of an acre at 7 India St. sold to David Masters, Jr. and Cielo Masters of Nantucket, Mass. from David Masters, Jr. of Nantucket, Mass. for $0. The property is assessed at $1,288,000. The land bank exemption is C.
 | | 3. Ahouse on .47 of an acre at 14 Gosnold Road sold to Leonard Barbieri and Jean Barbieri of Dover, Mass. from Richard F. Burns and Diane T. Burns of Sherborn, Mass. for $2,100,000. The property is assessed at $2,570,000. The land bank fee is $42,000. |
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12. A dwelling, Unit 3-A, at 3 Windy Way sold to Julie K. Demeritt, Trustee of Demeritt Family Nominee Trust of Canandaigua, N.Y. from Julie K. Demeritt, formerly known as Julie K. Immesoete of Canandaigua, N.Y. for $0. The property is assessed at $363,400. The land bank exemptions are C and D.
The Nantucket Islands Land Bank gained $234,565.40 in transfer tax fees for the week ending Feb. 16. For 2008, the Land Bank gained an estimated total of $1,796,876.01 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. A house on .26 of an acre at 157 Surfside Road sold to Giovanna Lucy and Richard Lucy of New York City, N.Y. from Sarah A. Ingram of Springfield, Mass. for $875,000. The property is assessed at $1,064,400. The land bank fee is $17,500. |
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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 the office at
22 Broad St. I
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