Transfer or account administrator

The website states:

So it is possible if you are the administrator. You can sign up someone else as administrator, then remove your account.

Has anyone ever dont this? if yes:

1. After you add another account as administrator and remove the first one how long does the transfer take, or is it instant
2. is this something at the administrators discretion or does it require approval from Google, and so it can take time to complete.
3. After you have 'transfered' the account, I assume the original account cant be used to login, as its removed, but what about payment setting etc... Can the new account holder have full access to change everything like payment settings and notification email/preferences

 

What is looks like Gmail associated adsense accounts can't be transferred to a different email address. As a whole you can't transfer a Adsense accounts as per my finding. You can only allow send a invitation to another user to have access on your existing Adsense account. The master rights will be your's only.

 

Step 3 says the new administrator can actually remove the old administrator though