Transfer theme to another user

I bought a theme on ThemeForest and want to transfer it to another user. Is it possible?

You can give them permission to use it if you are not but you can’t add it to their account so you will need to setup updates and support via the envato plugin

Thanks for your quick response. Yes, I want to add it to their account so he can manage payments, renewals, etc. I don’t need this item remains in my account. Is it a way to do this?

this type of item license transfer from one envato account to another not possible. but if you like you can setup envato market into thier site to get auto update features. This plugin helps them to receive updates to premium wordpress Themes & Plugins purchased through Envato Market (ThemeForest & CodeCanyon).
you can download the plugin from here:

Also note item support and download update only for the original purchaser account.