The land bank announced this week that it had purchased a 4.5-acre property abutting its John Presbury Norton Farm in West Tisbury. The seller was Binnie Ravitch and the price was $2,020,000. The land fronts on the Ice House Pond and was sold subject to a life-estate --- which allows sellers to remain on their properties for the rest of their lives while the price to the buyer is reciprocally reduced --- after which time the buildings will be removed and the property will be renaturalized.