I got one and I was able to transfer it when renewal was due. However you must make sure to cancel your account's premium status as well or they will charge you automatically.
Means only first name and first year is $1.99.and transfer need renewal a year oh,It is not good place to me
That is it, the low price is valid for the first year at Yahoo and all other registrars offering registration promos.
I heard that an internal transfer (or a push) is not allowed there. You should be able to transfer to another registrar, though.