Feb. 18, 2008 ~ Feb. 22, 2008
4. A house on .66 of an acre at 52 Hooper Farm Road sold to Richard J. Glidden, c/o Glidden & Glidden of Nantucket, Mass. from The Downy Flake, Inc. for $1. The property is assessed at $632,700. The land bank fee exemption is D.

1. Ahouse on 3.6 acres at 4 Wingspread Lane sold to Jonathan N. Grayer of Mamaroneck, N.Y. from Rhoda H. Weinman, Trustee, of Nantucket, Mass. for $9.000,000. The property is assessed at $9,822,500. The land bank fee is $180,000.

5. A house on .25 of an acre at 1 Brinda Lane sold to Richard J. Glidden, c/o Glidden & Glidden of Nantucket, Mass. from John A. Van Hoven and Leigh Van Hoven of Nantucket, Mass. for $1. The property is assessed at $630,200. The land bank exemption is D.

6. A house on .35 of an acre at 48 Hooper Farm Road sold to Richard J. Glidden, c/o Glidden & Glidden of Nantucket, Mass. from Karsten L. Reinemo, Trustee of Reinemo Nominee Trust of Nantucket, Mass. for $1. The property is assessed at $821,400. The land bank exemption is D.

7. A house on .24 of an acre and .19 of an acre and .38 of an acre on 1 Sconset Ave. and 3 Sconset Ave., respectively, and real estate property on .38 of an acre at 27 Old South Road sold to Santos Properties, LLC, of Siasconset, Mass. from Patricia Santos, Thomas J. Santos, William F. Santos and Kathleen McIntosh of Nantucket, Mass. for $1. The properties are assessed at $1,053,100, $1,015,600 and $583,000, respectively. The land bank exemption is I.

2. A house on .18 of an acre at 6 Fox Grape Lane sold to David C. Preschiack of Southport, Conn. from Rugged Scott, LLC, of Cambridge, Mass. for $1,315,000. The property is assessed at $543,900. The land bank fee is $26,300.

8. A house on .016 of an acre at 6A Stone Barn Way sold to Joseph Massik of Boston, Mass. from Joseph Massik and Carolyn Livingston, Massik of Boston, Mass. for less than $1. The property's assessed value is unavailable. The land bank exemption is C.

9. A cooperative dwelling at 21B Evergreen Way sold to Adam Sabin of Nantucket, Mass. from Adam Sabin of Nantucket, Mass. for $0. The property's assessed value is unavailable. The land bank exemption is I.

3. A house on .29 of an acre at 13 Ridge Lane sold to Mark A. McGarvey and Carol L. Rosen of Nantucket, Mass. from Jaclyn M. Jerabek of Columbus, Ohio for $1,100,000. The property is assessed at $998,000. The land bank exemption is $22,000.

10. A house on .29 of an acre at 15 Green Meadows sold to Ronald M. DaSilva of Mashpee, Mass. from Beatrice Leger of Nantucket. Mass. for $0. The property is assessed at $665,400. The land bank exemption is C.

11. A house on 2.8 acres at 13 North Pasture Lane sold to William F. Johnston, Jr. and Kathleen R. Johnston of New Canaan, Conn. from Kathleen R. Johnston of New Canaan, Conn. for $0. The property is assessed at $3,799,300. The land bank exemption is C.

12. A house on 2.8 acres at 13 North Pasture Lane sold to Kathleen R. Johnston, Trustee of the KRJ Nominee Trust of New Canaan, Conn. from Kathleen R. Johnston of New Canaan, Conn. for $0. The property is assessed at $3,799,300. The land bank exemption is D.

13. A house on 2.8 acres at 13 North Pasture Lane sold to William F. Johnston, Jr., Trustee of the WFJ Nominee Trust of New Canaan, Conn. from William F. Johnston, Jr., of New Canaan, Conn. for $0. The property is assessed at $3,799,300. The land bank exemption is D.

14. A house on 2.8 acres at 1 Milestone Crossing sold to Michael T. Gunson and Melinda Gunson, Trustees of Captured Memories Realty Trust of Nantucket, Mass. from Michael T. Gunson and Melinda Gunson of Nantucket, Mass. for $0. The property is assessed at $1,731,300. The land bank exemption is D.

15. A house on 2.8 acres at 1 Milestone Crossing sold to Michael T. Gunson and Melinda Gunson of Nantucket, Mass. from Michael T. Gunson and Melinda Gunson, Trustees of Captured Memories Realty Trust of Nantucket, Mass. for $0. The property is assessed at $1,731,300. The land bank exemption is D.

The Nantucket Islands Land Bank gained $228,300 in transfer tax fees for the week ending Feb. 23. For 2008, the Land Bank gained an estimated total of $2,025,176.01 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.

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 improve- ments, 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