Way to do 301 redirects without paying hosting space?

[computerkitten]

When changing company names and going from an old company name to a new company name (one WordPress website to another WordPress website), can you do 301 redirects for individual pages (so 301 redirecting one exact product URL to another product URL on a new domain name) without maintaining the old hosting space or paying for that space? According to Google Webmaster Tools document:

http://www.google.com/support/webmas...y?answer=83105

They are saying this "it's best to retain control of your old site domain for at least 180 days"

Just wondering if this can be done without them paying hosting space on the old URL but redirecting each product link at the domain level somehow?

Thanks