Transfer domain to different registar - affected by cancellation of plan? Need answer quick!

Factual Questions
1

Here’s the situation.

I have a domain plan with Yahoo Small Business, and wish to transfer to the Hostgator.

However, Yahoo is going to bill me within 2 days. The transfer of domain will take about 7 to 9 days.

Say if I cancel the plan with Yahoo, what will happen? Will the transfer still take place? Is the domain name in limbo in the meanwhile?

2

Is the plan only for the domain registration or does it include extra services you don’t need? I would pay the Yahoo bill to get the domain for one more year, it will/should extend your registration at Hostgator.

3

It also include domain registration. However, it is stated that the domain will only expire in January 2012.

4

Then it should be ok to cancel the plan. Your login for domain settings for yahoo should be valid.