PROPERTY TRANSFERS
4. A condominium on .12 of an acre at 71B Hinsdale Road sold to Elizabeth M. Walsh and William P. Sullivan of Nantucket, Mass. from Paul Caggiano of Boston, Mass. for $495,000. The property's assessed value is unavailable. The land bank fee is $1,900 and the exemption is M.

1.A house on 26 and 28 Fair St. sold to Candeloro Maggio of Windham, N.H. from Virginia L. Ivey of Nantucket, Mass. for $2,800,000. The property is assessed at $2,985,100. The land bank fee is $56,000.

5. A vacant lot on .47 of an acre at 9D Waydale Lane sold to Diarmuid O'Mahoney of Nantucket, Mass. from Lemberg Son & Daughter, LLC, of Nantucket, Mass. for $330,000. The property's assessed value is unavailable. The land bank exemption is M.

6. A house on .48 of an acre at 11 Pond Road sold to Mariett A. Badger of Greenwich, Conn. from Robert W. Shippee and Starr B. Shippee of Greenwich, Conn. for $145,000. The property is assessed at $1,054,000. 7. A vacant lot on 8.7 acres off Madaquecham Valley Road sold to the Nantucket Islands Land Bank of Nantucket, Mass. from Spectrum Health Hospitals of Grand Rapids, Mich. for $12,373,33. The property's assessed value is unavailable. The land bank exemption is A. 8. A condominium, Unit 4, at 23 West Chester St. sold to Alexander Filimonov and Beatrice K. Filimonov of Nantucket, Mass. from Beatrice K. Filimonov, Trustee, the Beatrice K. Filimonov Living Trust of Nantucket, Mass. for $1. The property is assessed at $906,600. The land bank exemption is D.

100 Squam Road 2. A vacant lot on 1.5 acres at 100 Squam Road sold to Christopher McKeown and Mary McKeown of Bermuda from Rebecca A. Weil f/k/a Rebecca A. Reynolds of Cooperstown, N.Y. for $2,450,000. The property is assessed at $1,467,200. The land bank fee is $49,000.

9. A house at 9C Waydale Road sold to Lemberg Son & Daughter, LLC, of Nantucket, Mass. from Lemberg Son & Daughter, LLC, of Nantucket, Mass. for $0. The property's assessed value is unavailable.

10. A house on 4.0 acres at 1 Sesachacha Pond sold to Gregg Seibert of Bernardsville, N.Y. from Stuart Kaperst, Trustee of Churchill-Crowell Nominee Trust of Bernardsville, N.Y. for $0. The property is assessed at $4,628,300. The land bank exemption is D.

8 Gull Island Lane 3. A house on .11 of an acre at 8 Gull Island Lane sold to Golden Pig, LLC, of Hoboken, N.J. from Gary S. McBournie and William J. Richards of Boston, Mass. for $2,140,000. The property is assessed at $1,456,500. The land bank fee is $42,800.

11. A vacant lot on .79 of an acre at 1 Airport Road sold to Walter J. Glowacki of Nantucket, Mass. from Mary E. Glowacki of Nantucket, Mass. for $0. The property is assessed at $466,200. The land bank exemption is C.

12. A house on .07 of an acre at 9 York St. sold to the Estate of Edmund J. Ramos of Nantucket, Mass. from Robert J. Ramos, Trustee of the Joaquim M. Ramos Revocable Trust of Nantucket, Mass. for $0. The property is assessed at $1,027,900. The land bank exemption is D.

13. A house on .07 of an acre at 9 York St. sold to Suzanne Ramos Fumarola, Debra McGrath, Edmund J. Ramos, Jr., Robert J. Ramos and Michael J. Ramos of Nantucket, Mass. from Michael J. Ramos and Suzanne Ramos Fumarola, Trustees of Edward J. Ramos Revocable Trust of Nantucket, Mass. for $0. The property is assessed at $1,027,900. The land bank exemption is D.

14. A house on .07 of an acre at 9 York St. sold to Nine York Street, LLC, of Nantucket, Mass. from Suzanne Ramos Fumarola, Debra McGrath, Edmund J. Ramos, Jr., Robert J. Ramos and Michael J. Ramos of Nantucket, Mass. for $0. The property is assessed at $1,027,900. The land bank exemption is D.

15. A vacant lot on a portion of 13.2 acres at 36 Burnell St. and a vacant lot on 2.9 acres on Tuckernuck Island sold to Tristram C. Dammin of Boston, Mass. from Abigail Coffin Murphy and Susan Coffin Dammin Stone of Nantucket, Mass. for $0. The properties are assessed at a portion of $4,051,300 and $1,150,000, respectively. The land bank exemption is F.

16. A vacant lot on a portion of 13.2 acres at 36 Burnell St. sold to Abigail Coffin Murphy of Nantucket, Mass. from Tristram C. Dammin and Susan Coffin Dammin Stone of Boston, Mass. for $0. The property is assessed at a portion of $4,051,300. The land bank exemption is F.

17. A vacant lot on a portion of 13.2 acres at 36 Burnell St., a vacant lot on 8.8 acres on Tuckernuck Island and a vacant lot on 11.1 acres on Tuckernuck Island sold to Susan Coffin Dammin Stone of Key West, Fla. from Tristram C. Dammin and Abigail Coffin Murphy of Boston, Mass. for $0. The properties are assessed at a portion of $4,051,300, $940,500 and $2,242,600, respectively. The land bank exemption is F.

18. A house on .70 of an acre at 7 Arbour Way sold to Steven L. Cohen, Trustee of Five Arbour Way Realty Trust of Boston, Mass. from Steven L. Cohen, Trustee of Seven Arbour Way Realty Trust of Boston, Mass. for $0. The property is assessed at $1,545,500. The land bank exemption is C.

The Nantucket Islands Land Bank gained

$149,700 in transfer tax fees for the week ending July 19. For 2008, the Land Bank gained an estimated total of $5,602,346.01 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 properties at 2 Massasoit Bridge Road, 159 Hummock Pond Road, and 22 Broad St.

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 improvement; 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 and 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.