No, but not being able to do a formal transfer does not prevent renting. All you need to do is make the reservation yourself using your points and put it in the name of the other person.
Any time you change or cancel a Disney Vacation Club Resort reservation 30 days to one day before your scheduled arrival date, the Vacation Points used for that reservation are put into a Holding Account.
What you need to know about using Holding Account Vacation Points:
You can use these Vacation Points for a new Disney Vacation Club Resort reservation during your current Use Year as long as you book the reservation 60 or less days before the new check-in date.
You can use these Vacation Points for an exchange through The Disney Collection, Concierge Collection, Adventurer Collection, and World Passport Collection if you make the reservation 60 or less days before the new arrival date and more than 60 days before the end of your Use Year.
You cannot bank or borrow these Vacation Points.
These Vacation Points will expire at the end of your Use Year if they aren't used.
WDWorld 2003 - Thanks for this answer! I was lucky enough to rent out all but 6 of my 137 that were in holding. I assumed I would just lose the 6, but now I will try to see if another member needs a few. thanks!