Sam and Erin with their son, proud owners of the 100th Covenant property
100th Covenant Property closes
July 29, 2021- Yesterday, the 100th Covenant property closed, almost eighteen years after the first Covenant home was created in 2003. We are tickled pink by the success of this scattered-site homeownership program, which currently houses 267 year-round Nantucket residents including 87 island children. We followed Attorney Susan McCarthy of Griffin Law, LLC as she saw this transaction through.
Mid-morning, the buyers met Susan at her office on Oak Street, where they signed paperwork in preparation for the closing later that day.
After she picked up the closing packet from Housing Nantucket and exchanged checks with the seller’s attorney, Susan headed to the Land Bank, where she filed the “O” Exemption paperwork which exempts the buyers from the land bank fee.
Next, Susan headed to the Registry of Deeds to record the transaction. Although she and Housing Nantucket’s Executive Director Anne Kuszpa (pictured above) hoped for the best, they were prepared to amend any paperwork that may have inadvertently contained an error.
Some quick calculations revealed a discrepancy in recording fees. Susan rushed back to her office to cut a new check. Would she make it in the next 25 minutes before the Registry closed?
Using her superhero-caliber lightning speed, Susan made it back on time.
The transaction was recorded, and the team heaved a huge sigh of relief.