Hi Nedlog
Yes, I have a few new names with 1and1, just to try them out. Haven't gone thru the process of transferring any names from them yet as all are only a couple weeks old or newer. I did notice a pretty complete FAQ section there that lays out the process for transferring your names to someone else's registrar, so check the faq area. You can also just go through the 'dry' motions to do a transfer, starting with their transfer link, and go through it once while using blank info, just to see the requirements.
Pretty straightforward; just need to get the receiving registrar's instructions/address for incoming transfers from whoever is buying these names. Ask the buyer who his/her registrar is, go there yourself and suss out their instructions for domain transfers. I can't spend a long time here going thru the whole process, as it's snugly laid out in the faq sections so you shouldn't have much prob once you read those.
Okay, thought I'd do the dry run myself just to see how it is... since I have some names with them. They actually don't make it particularly user-friendly it seems with the transfers... rather confusing use of words/directions.
Looks like you go to your list of names; select one or more of your names in the checkbox to transfer; click the 'contact' arrow at top of list, and then choose 'edit registrant contact' from the dropdown menu; change the 'data source' field so it says 'alternative reg-c'; then fill out details of new owner and registrar in the new fields that appear.
Certainly not as straightforward as Godaddy. Pm me to let me know how it works out or if problems; I'm curious to know, now that I have some names there

Hope it works smoothe for U