PROPERTY TRANSFERS
September 29 - October 3, 2008

1.A vacant lot on 1.8 acres at 16 Washing Pond Road sold to Richard J. Glidden, Trustee of 16 Island Realty Trust of Nantucket, Mass. from Jeffrey Dobrzynski of Red Bank, N.J. for $3,950,000. The property is assessed at $4,170,800. The Land Bank fee is $79,000.

9. A house on .50 of an acre at 7 Roberts Lane sold to Peter Fletcher Haigh, Jr. and Ashley Christ of Nantucket, Mass. from Paul R. Harrington and Lynne C. Harrington of Nantucket, Mass. for $895,000. The property is assessed at $890,100. The Land Bank fee is $9,900 and the exemption is M.

10. An undivided 1/6 share in a house on .12 of an acre at 5 Grand Ave. in Siasconset sold to Peter W. Ridder and Carol Coke Sanford of Prague, Czech Republic from Robert B. Ridder, Jr., Janet H. Ridder, Kathleen Ridder Crampton, Lewis S.W. Crampton, Christopher J. Ridder and Susan M. Moffitt of Grosse Pointe Farms, Mich. for $2,000,000. The property is assessed at $1,825,600. The Land Bank fee is $4,000.

11.Timeshareintervals, Periods 24 and 25 in Unit D-1 at Brant Point Courtyard Condominium on Swain Street sold to Michael Reese, Trustee of Reese Family Nominee Trust of Fort Worth, Texas from Diane Kopp, Trustee of Diane Kopp Trust of St. Louis, Mo. for $20,000. The property's assessed value is unavailable. The Land Bank fee is $400.

2.A house on 3.08 acres at 122 Tom Nevers Road sold to Susan A. Frazier of Nyack, N.Y. from Robert O. Dinozzi, Jr. of Ossining, N.Y. for $3,000,000. The property is assessed at $2,447,900. The Land Bank fee is $60,000.

12. A timeshare interval, Time Period 40 in Unit A-7 at 3 Swain St. sold to Michele Becci of Doylestown, Pa. from Donn J. Roberts and Louise V. Horan of Sadsburyville, Pa. for $5,500. The property's assessed value is unavailable. The Land Bank fee is $110.

13. A vacant lot on 3.2 acres at 9 Dionis Beach Road sold to the Nantucket Islands Land Bank of Nantucket, Mass. from Steven Ruley of Port Charlotte, Fla. for $2,222.22. The property is assessed at $936,500. The Land Bank exemption is A.

14. A timeshare period, Interval 12 at 23 Arkansas Ave. sold to Scott A. Gordon and Ruth A. Gordon of Exeter, R.I. from William Marco of Leicester, Mass. for $1,000. The property's assessed value is unavailable. The Land Bank fee is $20.

3. A vacant lot on 9.0 acres and 4.1 acres at 12 and 16 Squam Road, respectively, sold to Christine Schuster of London, SW7 5NL England from Slan, LLC, of Fargo, N.D. for $2,675,000. The property is assessed at $4,110,700. The Land Bank fee is $53,500.

15. A one-half interest in a vacant lot on 1.04 acres at 9 Burnt Swamp Lane sold to Neal W. G. Paterson of Nantucket, Mass. from Joan E. Sullivan of Nantucket, Mass. for $0. The property is assessed at $663,900. The Land Bank exemption is C.

16.A house on 2.4 acres at 3 Shawkemo Hills Lane sold to Charles O. Prince and Margaret L. Wolff of New York City, N.Y. from Wilbur Ack, LLC, of New York City, N.Y. for $0. The property is assessed at $4,403,900. The Land Bank exemption is I.

17. A house on .20 of an acre at 128 Main St. sold to Alicia Bradford of Nantucket, Mass. from Thomas J. Welsh, Trustee of the Elsa Bradford Qualified Personal Residence Trust of Meriden, Conn. for $0. The property is assessed at $2,203,300. The Land Bank exemptions are C and D.

18. A house on .13 of an acre at 69 Goldfinch Drive sold to Stephen H. Ketler and Ana F. Ketler of Milton, Mass. from Stephen H. Ketler and Harry Ketler of Milton, Mass. for $0. The property is assessed at $863,000. The Land Bank exemption is C.

4. A house on Lot 2, LC Plan 14241-B on Tuckernuck Island sold to Arthur I. Reade, Jr., Trustee of High Meadows Trust, of Nantucket, Mass. from Bernard A. Bartlett of Nantucket, Mass. for $2,500,000. The property is assessed at $2,055,700. The Land bank fee is $50,000.

19. A house on .25 of an acre at 6 ½ Lewis Court sold to Steven J. Holdgate, Sr. of Nantucket, Mass. from Sarah Beth Holdgate of Nantucket, Mass. for $0. The property is assessed at $860,200. The Land Bank exemption is K.

The Nantucket Islands Land Bank gained

$404,330 in transfer tax fees for the week ending Oct. 4. For 2008, the Land Bank gained an estimated total of $8,609,878.90 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.

5. A house on .47 of an acre at 12 Madaket Road sold to Nancy H. O'Neill of Duxbury, Mass. from Lia N. Humphrey and Michael Humphrey of Nantucket, Mass. for $2,075,000. The property is assessed at $2,115,900. The Land Bank fee is $41,500.

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).

6. A house on .12 of an acre at 2 Quarter Mile Hill sold to Raymond L. Jones, Trustee of Two Quarter Mile Hill Nominee Trust of Vero Beach, Fla. from Robert E. Tonkin of Nantucket, Mass. for $2,000,000. The property is assessed at $2,202,900. The Land Bank fee is $40,000.

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.

7. A house on .16 of an acre at 12 New Lane sold to Otto Naumann and Heidi D. Shafranak of New York City, N.Y. from Island Property Group Realty, LLC, of Nantucket, Mass. for $1,935,000. The property is assessed at $888,000. The Land Bank fee is $38,700. 8. A house on 1.9 acres at 50 Kendrick St. sold to Mary Ellen Hayward of Glen Rock, Pa. from Carl Neilsen of Wayne, Pa. for $1,060,000. The property is assessed at $1,216,900. The Land Bank fee is $27,200.