Is it possible to transfer a record from one collection to another user?

To highlight the use case,

Let’s say I’m a rep and I have recruits to work for me in a sales organization. I am a logged-in user of the app.

Let’s say I want to transfer one of my recruits to another logged-in user account on the app so that my recruit now becomes his recruit and I lose access to that recruit.

Is this possible?

Sure. You just create a one-to-many relationship between users. Then when you reassign the recruit user you just add the user to the new rep user and remove them from the old rep user.