PROPERTY TRANSFERS
August 25 - August 29, 2008

1. A business on 4A Bayberry Court, 4B Bayberry Court, 4C Bayberry Court, 5 Harbor Terrace, 128 Orange St., 5A Bayberry Court, 5B Bayberry Court, 5C Bayberry Court, 5D Bayberry Court, 6A Bayberry Court, 6B Bayberry Court, 6C Bayberry Court, 6D Bayberry Court, 6E Bayberry Court, 6F

6.A house on .12 of an acre at 10 Wood Lily Road sold to Richard Liam Robinson and Erin Jane Robinson of Nantucket, Mass. from Rugged Scott, LLC, a Delaware limited liability company, of Wilmington, Del. for $210,000. The property is assessed at $540,000. The Land Bank exemption is M.

7. A house on a .018 of an acre of .46 of an acre at 3 Enterprise Circle sold to Benjamin Realty Trust, Sabrina S. Elwell, Trustee, of Nantucket, Mass. from Anna D. McGuiness f/k/a Anna D. Jones of Nantucket, Mass. for $21,288 (swap). The entire property is assessed at $1,101,800. The Land Bank fee is $425.76.

8.A house on a .018 of an acre of .46 of an acre at 1 Enterprise Circle sold to Anna D. McGuiness f/ k/a Anna D. Jones of Nantucket, Mass. from Benjamin Realty Trust, Sabrina S. Elwell, Trustee, of Nantucket, Mass. for $21,288 (swap). The property is assessed at $1,060,300. The Land Bank fee is $425.76.

Bayberry Court, 8C Bayberry Court, 8D Bayberry Court, 8E Bayberry Court, 8F Bayberry Court, 134 Orange St. 134 Orange St. 2 Harbor Terrace, 9 Harbor Terrace, 142 Orange St., 138 Orange St., 7 Harbor Terrace and 58 Old South Road sold to U.S. Reif Marine Nantucket Fee, LLC, a Delaware limited liability company of Boston, Mass. from Marine Lumber Company, Inc. of Nantucket, Mass. for $23,769,705. Collectively, the properties are assessed at $22,309,400. The Land Bank fee is $475,394.

9.A condominium, Unit 4 at 23 West Chester St. sold to Beatrice K. Filimonov, Trustee of the Beatrice K. Filimonov Living Trust, of Nantucket, Mass. from Alexander Filimonov and Beatrice K. Filimonov of Nantucket, Mass. for $1. The property is assessed at $906,600. The Land Bank exemptions are D and C.

10.A condominium unit, Unit 2 of 40 Centre Street Condominium at 40 Centre St. sold to Geraldine E. Spatola of Newburyport, Mass. from Kenneth B. Spatola of Amesbury, Mass. for $0. The property is assessed at $698,000. The Land Bank exemption is K.

2.A house on 1.01 acres at 29 Baxter Road sold to William F. Hunter, Trustee of 29 Baxter Road Nominee Trust of Nantucket, Mass. from Insight Baxter, LLC, of Newton, Mass. for $8,500,000. The property is assessed at $5,144,200. The Land Bank fee is $170,000.

11.A house on .42 of an acre at 21 Cliff Road sold to Arie L. Kopelman and Corinne Kopelman of New York City, N.Y. from Arie L. Kopelman of New York City, N.Y. for $0. The property is assessed at $6,170,600. The Land Bank exemption is C.

12. A house on .11 of an acre at 3A Sun Island Road sold to John F. Trudel, III, of Nantucket, Mass. from Richard J. Glidden, Trustee of 16 Nobadeer Farm Road Realty Trust of Nantucket, Mass. for $0. The property is assessed at $575,300. The Land Bank exemption is D.

The Nantucket Islands Land Bank gained

$749,851.52 in transfer tax fees for the week ending Aug 30. For 2008, the Land Bank gained an estimated total of $6,976,071.95 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).

3.A house on .13 of an acre at 3 Willard St. sold to Carole P. Beller and Gary A. Beller of New York City, N.Y. from Bernard P. Coonley, III, of New York City, N.Y. for $2,500,000. The property is assessed at $1,778,400. The Land Bank fee is $51,000.

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.

4.A house and business on .14 of an acre at 3 Tashama Lane and 5E Bayberry Court Condominium Unit, respectively, sold to U.S. Reif Marine Nantucket Fee, LLC, a Delaware limited liability company of Boston, Mass. from Denis H. Gazaille of Nantucket, Mass. for $1,330,295. The properties are assessed at $643,900 and $572,300, respectively. The Land Bank fee is $26,605.90. 5. A house and business on .29 of an acre at 8 Windy Way sold to U.S. Reif Marine Nantucket Fee, LLC, a Delaware limited liability company of Boston, Mass. from 8 Windy Way, LLC, a Massachusetts limited liability company, of Nantucket, Mass. for $1,300,000. The property is assessed at $1,227,900. The Land Bank fee is $26,000.