The principals of a land trust known for purchasing islands on both sides of Volusia County paid $10 to the state for the spoil easement on a 15-acre island in the Intracoastal Waterway not far from Ormond Beach.

Anyone who buys the island, which has an asking price of $500,000, would be able to build a home on it, according to real-estate investor Emilio Cirelli, manager of In Land We Trust LLC.

Of the 15 acres, about 1.31 are available for building.

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