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If I deregister my kindle and re-register to another amazon account, does my already purchased content go away?

Sunday, November 22nd, 2009

I want to give my original kindle to my sister and buy myself the new edition. But, I also want her to be able to read all the books I have paid for and loaded already on the original kindle. Ideally I would deregister the original kindle before I give it to her so she can re-register to her own amazon account. But then will my old content disappear?