Is a mac ownership transferable (and what abt AppleCare)?

My brother just bought a laptop using his student discount and I wanted to buy it off him (saves me some money!). I had a couple of questions:

1. Will the default 1 year warranty hold good if ownership transfers to me?

2. If I decide to buy a AppleCare plan sometime soon, would it hold good considering I am not the original owner?

3. Do I need to have legal paperwork showing I purchased it from him?

Your help is greatly appreciated !

Yes. ...*lengthens message to fit parameters*

As for paperwork, I don't think so. As long as it's registered. And if it isn't registered, you can register it and then buy apple care.

1. Get your brother to take up Applecare.

2. Purchase the machine from him.

3. See third entry from bottom on transferring:-

Apple - Support - AppleCare - FAQ

Someone buys a Mac using his student discount then sells it to someone else who is not a student. Is that a valid topic for discussion here?

Apple would obviously prefer if the purchaser actually used the mac, but they don't / can't prohibit students from selling laptops they purchased.