SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

SCHNITZER MARC

(Last)

(First)

(Middle)

C/O CHARTERMAC,

625 MADISON AVENUE

(Street)

NEW YORK,

10022

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
CHARTERMAC [ CHC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	President

3. Date of Earliest Transaction (Month/Day/Year)
11/30/2005

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common shares	11/30/2005		C		10,000⁽¹⁾	A	⁽²⁾	48,961	D
Common shares	11/30/2005		S		1,800	D	$21.9	47,161	D
Common Shares	11/30/2005		S		3,600	D	$21.93	43,561	D
Common Shares	11/30/2005		S		100	D	$21.94	43,461	D
Common Shares	11/30/2005		S		2,400	D	$21.95	41,061	D
Common Shares	11/30/2005		S		300	D	$21.96	40,761	D
Common Shares	11/30/2005		S		700	D	$21.97	40,061	D
Common Shares	11/30/2005		S		1,100	D	$21.98	38,961	D
Common shares								21,157	I⁽³⁾	By: RelCap Holdings Company, LLC

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Special Common Units of CharterMac Capital Company, LLC	⁽²⁾	11/30/2005	11/30/2005	C			10,000	11/17/2004	⁽⁴⁾	Common Shares	10,000	⁽²⁾	909,229	I	By Marc Associates L.P.⁽⁵⁾

Explanation of Responses:

1. On November 30, 2005 Mr. Schnitzer exchanged 10,000 Special Common Units for an equal number of common shares.

2. The Special Common Units are exchangeable on a one-to-one basis into common shares.

3. RelCap Holdings Company, LLC owns 21,157 common shares. Mr. Schnitzer is a 9.69% indirect equity owner of RelCap Holdings Company, LLC.

4. Not applicable.

5. The Special Common Units are held by Marc Associates L.P., of which Mr. Schnitzer is the 100% equity owner.

Remarks:

	/s/ Marc Schnitzer	11/30/2005
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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