Licence Transfer Xbox?

I bought WWE 13 for £19.99 off of xbox today and my pal wanted it but his mum said no so i said we should licence transfer it so he logged into my account went onto licence tranfer and downloaded it.

my question is will that all work swimmingly, does that mean he now has the game or have i like gave it to him and now i dont have it. im not sure i have never done licence transfer before

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