By "transferring API privileges", do you mean start using a different google account to authorize and authenticate the API requests? If so, you can
grant access to a new user for the account in question and
generate OAuth2 credentials using this email account to be used in API requests. Please note that you need to keep your API contact email up-to-date. You can use a developer token to target
any account, even if they're not linked to the manager account associated with the developer token.
Shwetha, AdWords API Team.