Perma ban

Hi NightFury,

If you were to get a permanent suspension you forfeit all content licenses, gold membership time, and Microsoft account balances associated with the suspended/banned account. 

For more information go here: https://enforcement.xbox.com/en-US/home/codeofconduct

Hi there,

I understand your concern in regards to this but if you repeatedly commit violations and upon agreeing to service agreement the next step would be a permanent ban/suspension that revokes the whole Microsoft account. As well as the length of the suspension depends on the severity of the offense. In most cases, a permanent Xbox Live account suspension does not remove your games or purchases. Any previously-downloaded games, apps, or features that can be used in an offline mode will still be accessible to the suspended account. However, any content or features that require online services will not be usable by the account, such as the ability to purchase new content and, without a designated home Xbox One console, the ability to re-download content through other accounts.

Not really.Everyone who creates a xbox live profile has to agree to the Code of Conduct/Terms of Use.It tells you quite clearly that you forfeit all content licences if you receive a permanent ban which is something you've agreed to.