Here are some clips from their online faq.
Q: How do I move my Libronix library to a new computer?
A: The Libronix DLS is licensed to one user. You may install it on both your desktop and notebook computers, or on your home and office computers, if you are the primary user of the software on each system. Click here to find out which files can be backed up and moved.
Q: How do I Transfer my Licenses?
A: Licenses for shippable products on CD-ROM or DVD-ROM, which come with a Serial Number, can be transferred from one person to another provided a License Transfer fee is paid. The transfer fee is 10% of the current Retail price for the product being transferred, with a minimum fee of $20. Either party involved with the transfer can pay the fee. We require the transfer request in writing (email is accepted) from the person to whom the software is currently registered. Please provide the following information:
The name and contact information of the current user, including email address.
The Libronix Customer ID of the current user. (This can be found on under Help | About Libronix DLS.)
The name and contact information of the person receiving the license, including email address.
Recipient's Libronix Customer ID, if they have one.
The product name(s) and serial number(s).
Note: Licenses for unlocked, downloadable products are non-transferable.
I didn't see anything about "death". I would think at worst it would be as above but I wouldn't be suprised if you can bequeath it. Someone would have to call their support though to get the definitive answer.
Link:
Logos Bible Software FAQs