My contract is not up until July, 2011. If I pay the ETF ($175 minus $5/month of the contract to date (correct?)), what do I have to do to prepare the phone before selling the phone to another party? Simply perform: Settings > General > Reset > Erase All Content and Settings? And then it will be good to go for the new owner? My phone is currently jailbroken, but I know I will have to restore it to get my info off. I have a friend in the market and I could let them take over my account. Does AT&T allow this? Would there be any benefit to my friend? Or, does AT&T allow month to month at the same rate for those who have bought an iphone from a private seller?