How do I transfer the ownership of the CRM account?

Yes as a admin it is possible to transfer the ownership of your CRM account to another admin user. 

Follow these steps to transfer account ownership:

1. Log in to your CRM account. 
2. Click the User Menu on the top right corner of the screen.
3. Click the Settings button.
4. Click  User Management > Users. The Users page opens. 
5. Click the Customize drop-down in the top right corner.
6. Select the Change Owner option.
7. Select the User to whom you want to transfer the account ownership.
8. Click Save.