However, have enough experience in this department.Put together a simple letter stating that you followed the terms of their constitution.

We live in a free market economy, and any such requirements would probably at least violate some basic fiduciary obligations of the realtor if not some antitrust laws and possibly even some basic constitutional rights.

This is really about you (as both homeowners and real estate investors), your freedom and in a macro-prospective, your constitutional rights...

There is legal precedence that not informing the lender does not constitute fraud.

Not sure how constitutional it would be to outlaw two perfectly legal business contracts, a lease and an option, just because both were between the same parties.But remember this is the same legislature who tried to put through the "dirty cheerleading" bill and did pass the legislation to put in effect the largest steroid testing operation in the world!

Former Justice Potter Stewart of the Supreme Court of the United States, in attempting to classify what material constituted exactly "what is obscene", famously wrote, "I shall not today attempt further to define the kinds of material I understand to be embraced . . .

The banks can also contend that this constitutes an attempt to evade foreclosure.

So far they have paid and haven't caused any additioonal problems, so....That's why you need to write into your lease what constitutes a guest and an occupant, as well as no animals are allowed in the premises at anytime whether owned by the occupant or not.

ok Eric so tell me what constitutes a deal.

And, since a contract is (more or less) offer, acceptance, and consideration - it is theoretically possible to write contract terms on the check such as writing (above the line on which you write the recipient's name) something like the following: "Acceptance of this check constitutes [owner's] agreement to assign xyz lien to John Doe in exchange for the pruchase price of $X" You could also write that again on the back to make extra sure....