Switching iTunes purchases to new e-mail account & multiple iPhones

[toxicquack]

My partner has recently ordered an iPhone 5 and I will get his 4S (my first iPhone!). My question is that I have an iTunes account under my e-mail address which he has used for buying his apps etc. When I get the 4S obviously I will want to use my own e-mail address and purchase my own apps.

Is it possible to set up an account with his e-mail address and then transfer the current app purchases to his new account? We have a shared bank account, but I presume this wont be a problem?

I want to transfer his purchases to his email address, but then continue to use my current email as my own.

Finally, when we're both using the same computer / iTunes will his apps and my apps be separate so they can easily be managed? Also, he has a few purchases I wouldn't mind using, is it possible to use these or do I need to buy them again?

So in short:

1) Can you transfer purchases on one iTunes account to a newly created account?

2) Can the original account continue to purchase apps?

3) Can you have two accounts for two different people who share a bank account?

4) Are apps and pictures etc easily manageable with two iPhones on one computer? Is there anything special I should do to make this management as easy as possible?

If anyone can help i'd appreciate it.

 

[verwon]

You can actually both use the same iTunes account, to have access to the apps and such, but set up different iCloud accounts, so you have your own email, iMessages and etc.