The answer is – Yes! Only 1 time though.
10. Transfer of Plan
(i) With Transfer of Covered Equipment to New Owner. Subject to the restrictions set forth below, you may make a one-time permanent transfer of all of your rights under the Plan to another party, provided that: (a) the transfer includes the original Proof of Purchase, the Plan’s Confirmation and all of the Plan’s packaging material, including printed materials and these Terms and Conditions; (b) you notify Apple of the transfer by sending, faxing or e-mailing notice of transfer to Apple Inc., ATTN: Agreement Administration, MS: 217AC, 2511 Laguna Blvd, Elk Grove, CA 95758, U.S., fax number 916-405-3655 or firstname.lastname@example.org, respectively; and (c) the party receiving the Plan accepts the Terms and Conditions of the Plan. When notifying Apple of the transfer of the Plan, you must provide the Plan Agreement Number, the serial number of the Covered Equipment being transferred and the name, address, telephone number and email address of the new owner.
See full details in Apple’s Terms and Conditions. http://www.apple.com/legal/sales-support/applecare/appgeos.html