PROPERTY TRANSFERS
August 11, 2008 ~ August 15, 2008
5.A vacant lot on .14 of an acre on a portion of 38-40 Main St., Siasconset, Mass. sold to George W. Bilicic, Jr. and Laura S. Bilicic of Locust Valley, N.Y. from David Hulme of Dayton, Ohio for $635,000. The properties are assessed at $2,460,000 and $2,250,000. The land bank fee is $12,700.

1.A house on .29 of an acre at 8 Nanahumacke Lane sold to Karen H. Falck of Stonington, Conn. from Donovan Realty Trust of Nantucket, Mass. for $1,930,000. The property is assessed at $770,300. The land bank fee is $38,600.

6.A timeshare period, Interval 22 in Unit E at Mariner House Condominium at 30E Centre St. sold to James R. Tallman and Carl Eisenmann, Trustees of Mariner House Condominium Association Realty Trust of Nantucket, Mass. from Steven W. Tendler and Gayla Tendler of Lansdale, Pa. for $2,060. The property's assessed value is unavailable. The land bank fee is $42.20.

7.A portion of Sherburne Turnpike sold to the Town of Nantucket of Nantucket, Mass. from the County of Nantucket of Nantucket, Mass. for $0. The property's assessed value is unavailable. The land bank exemption is A.

2.A house on .98 of an acre at 32 Pocomo Road sold to 32 Pocomo Road Realty Trust, LLC of Nantucket, Mass. from Michael Barlow and Daniel M. Round of Lakeville, Mass. for $1,475,000. The property is assessed at $1,318,500. The land bank fee is $29,500.

8.A vacant lot on 3.8 acres at 21 Shawkemo Road sold to A & B Realty Trust, Stephen W. Kidder, Michael J. Puzo, Trustees, of Boston, Mass. from Amos B. Hostetter of Boston, Mass. for $0. The property is assessed at $1,890,900. The land bank exemption is D.

9.A vacant lot on 7.3 acres at 20 Shawkemo Road sold to A & B Realty Trust, Stephen W. Kidder, Michael J. Puzo, Trustees, of Boston, Mass. from Amos B. Hostetter of Boston, Mass. for $0. The property is assessed at $11,806,800. The land bank exemption is D.

10. A house on .31 of an acre at 55 Baxter Road sold to A & B Realty Trust, Stephen W. Kidder, Michael J. Puzo, Trustees, of Boston, Mass. from Barbara W. Hostetter, Jr. of Boston, Mass. for $0. The property is assessed at $4,896,300. The land bank exemption is D.

3.A vacant lot on .29 of an acre at 11 Nanahumacke Lane sold to Laurie H. Donovan, Trustee, Donovan Realty Trust, of Nantucket, Mass. from Karen H. Falck of Stonington, Conn. for $800,000. The property is assessed at $770,300. The land bank fee is $16,000.

11. A house on 2.0 acres at 53 Baxter Road sold to A & B Realty Trust, Stephen W. Kidder, Michael J. Puzo, Trustees, of Boston, Mass. from Amos B. Hostetter, Jr. of Boston, Mass. for $0. The property is assessed at $7,300,400. The land bank exemption is D.

12. A house on .59 of an acre at 95 Tom Nevers Road sold to Carol Freyn King of Easton, Md. from Carol Freyn King of Easton, Md. for $0. The property is assessed at $1,300,700. The land bank exemptions are C and D.

The Nantucket Islands Land Bank gained

$110,342.20 in transfer tax fees for the week ending Aug. 16. For 2008, the Land Bank gained an estimated total of $6,143,820.43 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, confi rms, 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 offi ce at 22 Broad St.

4.A condominium on .23 of an acre at 2B Dennis Drive sold to Lisa J. Sawlit of Boston, Mass. from Elizabeth Harris of Nantucket, Mass. for $675,000. The property's assessed value is unavailable. The land bank fee is $13,500.