An eligible occupant may elect to purchase the premises for cash or at any time after the execution of a contract of lease with an option to purchase, but the deed of conveyance shall prohibit the lease, sublease, sale or transfer by gift, or otherwise, of the emergency housing unit for a period of 20 years from the date of the cash sale or the date of the execution of the contract of lease with option to purchase, as the case may be, without the prior written consent of the Executive Director of the Virgin Islands Housing Finance Authority. The restraints upon alienation contained in this subsection shall not be construed to apply to a devise or other transfer by operation of law brought about by reason of the death of the lessee or the purchaser.