128. Nature of option to purchase.

A lease may confer upon the tenant an option to purchase the landlord's interest in the demised premises1. The option usually takes the form of a covenant by the landlord that, if the tenant within a specified period gives to the landlord written notice of a specified length of his desire to purchase the fee simple or other interest of the landlord in the premises, the landlord will on payment of a specified purchase price, and of any arrears of rent, convey the demised premises to the tenant2. Such an option is collateral to, independent of, and therefore not