Yes, it does transfer to subsequent owners. However, I once inquired about this and was told that Volvo will not replace the ETM until after some prerequisite repairs have been attempted without success. These other repairs (cleaning throttle body, etc) will cost you money unless the rest of your engine is still under warranty. At the end of the process, it's possible it'll be more expensive to get the ETM replaced under warranty than if you just bought a new ETM yourself.
2001 Volvo V70XC
Cold Weather/Touring/Premium packages
08/01 Build Date