Apple care
Can I transfer my apple care to the buyer if I sell my iPhone?
iPhone 12 Pro, iOS 14
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You may be able to. See the information in: Transfer your AppleCare plan - Apple Support
The other option that you may want to consider is to cancel it for a partial refund if you paid in full or to stop the billing if you pay monthly. See: Cancel or change the payment method for your AppleCare plan - Apple Support