Having an existing valid license entitles you to upgrade to the latest version. There is no additional cost beyond that of the license itself.
You will need to activate this new license on Jira before you can do the upgrade. You can do this by going to Cog Icon -> Applications -> Versions & Licenses. You would need to take the license key for this product that you can copy from the https://my.atlassian.com and then apply this to that page.
As for transferring a license, well that depends on how you are planning to upgrade Jira. There are different approaches to upgrading Jira as explained in Upgrading Jira applications. If you do the upgrade in place (meaning upgrading the existing installation directory of Jira), then there is no need transfer licenses.
However you could do an upgrade whereby you create a new fresh installation of Jira, and then copy over your $JIRAHOME directory and import an XML backup. If you use this method, then you might need to apply the new license during the installation. I say might, because when you apply the license to a Jira instance, that license key is stored in the database. So if you apply the key, and then generate a fresh XML backup, that license is maintained in the backup. So in that case you might not need to apply the license key again if the database has a current valid key.
I don't think there are any costs involved with an upgrade. You get charged for extra user licenses.
I will suggest you to focus more on the plugins and your DB because you are skipping so many versions in between. Try to get more info about the 2 versions and if you are using other Atlassian Products how they will be affected.
Let us know how it goes.
Best of luck!
Updated to 7.5.1 with no license issue. Thank you.
But when trying initialize a new database I get these errors in my log after starting and connecting to JIRA. I ran config.bat and tested the connection prior.
"[GC (Allocation Failure) [PSYoungGen:"
"[Full GC (System.gc()) [PSYoungGen:"
And "ERROR [o.o.c.entity.jdbc.DatabaseUtil] Could not create table "jirasch.jiraaction""
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