Subcontract transfer from one entity to another

Hello,

Is there a way to transfer an active contract in the Subcontract Based Purchasing module from one entity to another company entity?

 We have a building that has an active contract with monthly pay apps moving through it. This building will be moving to a new entity business unit and we want to know how this legal transfer of entity will affect the contract system. I was hoping a transfer of the contract could occur like we can do in the Fixed Assets module. Your help is greatly appreciated. 

Thank you.