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Selling Xbox with downloaded content

Hi. I want to sell an xbox 360 with games downloaded onto it. I did post before but got a little confused when I looked into it.
Can I simply go to Account Security, on the xbox, Change Microsoft Account, and put in the email address of the new owner? Will this then remove all the billing and account details? The new owner would then use the current gamertag until they wished to change it.
Thanks
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