1

Buying a used iPhone 5. What should be my next steps to register as the new iPhone owner in Apple's eyes, have warranty, etc.

2

The warranty is established by Apple based on the serial number and nothing else.

If you want to register things, you can do several things:

1

Set up your iPhone as a new device via iTunes on your computer and follow through the steps (log in to your Apple ID or create a new one). You will be given the opportunity to register your iPhone under your name.

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