As far as I knew that Vbulletin has made it illegal to sell vb leased license and does not allow transfer of leased licenses? Yet I saw at a few forums where people were selling leased licenses? That is weird because they might get their licenses lost if VB finds out?

I think you can only sell licenses that you have bought and own for life. Anyone know the penalty if you do sell a leased license?

Right. But with permission, I believe they will allow the lease to be resold. Im not sure on that, but I know someone who does this and I know him to have asked for permission first from vb.com