The Martha’s Vineyard Land Bank is expanding and connecting its Lambert’s Cove-area properties, paying $2,020,000 this week for with 4.5 acres and a house on Ophelia Way in West Tisbury.

“The Land Bank purchased it in order to help water quality in Ice House Pond,” executive director James Lengyel told the Gazette.

The deed grants life estate to seller Mary Robin (Binnie) Ravitch, who will continue to live there. After the life estate, Mr. Lengyel said, both the house and its septic system will be removed.

“There will be one fewer septic system in the watershed,” he said.

Buying conservation land with a life estate for the seller has benefits for both sides of the transaction. The original owner continues to enjoy the property for the rest of her life, and the Land Bank paid a lower price to offset the shared use.

“It works for both parties,” Mr. Lengyel said.

During the life estate, the Land Bank has the right to install a trail along the southern edge of the property, he said. The trail will connect the newly-purchased land, to be known as Pepperbush Preserve, with existing Land Bank properties on either side: John Presbury Norton Farm directly to the east and Manaquayak Preserve on the west.

Although it has 236 feet of frontage on Ice House Pond, Pepperbush Preserve — named for the white-flowering clethra shrubs that grow abundantly in the area — will not offer pond access, Mr. Lengyel said.

“The Land Bank agreed it would not use the frontage on the pond for water access or water use, because the Land Bank already has that on the opposite side of the pond,” he said, referring to the swimming dock at Manaquayak Preserve.