Forum Moderators: Robert Charlton & goodroi
Whether you can retain control of the disputed domain (and you will need to if you want to put the 301 redirect in place) is a legal issue - good luck with that.
See these threads for more detail:
Advice on moving a site to a different domain [webmasterworld.com]
Moving to a New Domain - Official Advice from Google [webmasterworld.com]