I want to sell my iPhone, but since it is registered for development what would be the necessary steps to take before selling it so that if the buyer decides to jailbreak it or something it would not affect me. As I don’t want to be removed from the ios dev program for jailbreaking.
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Jailbreaking you iPhone will not make you lose you developers account.
Just remove the UDID from you development device list should be enough. Since the new user will setup the device, Appel will connect it to there AppleID.