Depending on the registrar. Godaddy used to do instant transfer (when sender and reciever is both in Godaddy), and close to instant once the registrar releasing the domain gives approval.
I know with GD, their transfer system is offline for .com domains. Been off line for almost a week now with no plans on bringing it back online.
So if your using godaddy, you may be out of luck, depending if they shutdown .tv transfers or not.
What registrars are we looking at here?