Quote:
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You may make a one-time, permanent transfer of your rights in the Software to a third party ("Subsequent Licensee"), provided the Software was purchased by you more than 90 days prior to the transfer, that you do not keep a copy of the Software for yourself, the Subsequent Licensee agrees to the terms of this Agreement and the License, and the Subsequent Licensee agrees to assume your rights as a licensee of the Software.
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vbulletin.com/order/license_agreement.php
It's right there on their website.