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Like if someone bought my exchange server off of ebay, can I transfer the licenses to them? Do they have to buy any new cals?

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First: Read the EULA - there will be a section in there about transfer of ownership.

In general most software from Microsoft can be transferred to a third party if:

  1. The software is passed on with all the original media, license codes, and proof of purchase.
  2. In the case of OEM software it remains with the computer it is licensed to.
  3. In the case of Non-OEM software all other copies of the software are removed from your computers that aren't being transferred with the software.

This blog entry puts it better, but is written about Windows 7 - http://blog.superuser.com/2011/04/06/microsoft-licencing-transferring-windows-to-another-computer/

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