Will I loose my apps if I setup a new Apple ID

Hi,
My old ipad has been lying around for couple of months unused so I am thinking of giving it to my dad. On that ipad I have several apps (both paid and free). Now before I give it to my dad, I would of course erase the ipad (and remove my apple id from it). My dad then would create a new id for himself.
My questions is, would doing above preserve my apps? Please note that I don't have any other apple device at the moment so my apple id will not be used anywhere.
The idea is when I get around to buying a new ipad in some months, I would like to put in my apple id and have all the apps there.
Thanks!
-ankit

Sorry for being a thick head but if i understood you correctly,
1. If I simply backup my apple account to itunes, it would backup a list of the apps. Now if i restore that account in future to a new ipad, it would re-download the apps in the backup list (as long as they are available in itunes store). For the apps that are paid (and for which i have already paid once), would i need to pay again on the new ipad?
2. If I do a 'Transfer Purchase Function', then it'll transfer the purchase to my computer which then can be restored to the new ipad.
Did I understand it correctly?
Thanks!

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