Transfer of Ownership of Microsoft Licencing

I've asked this of Microsoft themselves and they have given me 2 different answers and I was wondering whether anyone on here had dealth with this previously.

I am looking to purchase some used items of hardware and software from a  company going into voluntary liquidation as a 'job lot'.  I have found out from Dell that I can transfer the ownership of the support agreement on the physical hardware, but I will also take ownership of licencing for the company (Office 2003/Server 2003/Exchange 2003 and associated CAL's) as part of my agreement.

Is it legal to transfer ownership of the Microsoft licences - I want to make sure that what I plan to do is 100% legit, and don't want to open myself up to legal problems as an individual at a later date.  I've looked through the licence agreements on the Microsoft site, but the only bits I can find with regard to transfer of ownership state that MSDN subscriptions can't be transferred.

Thanks in advance