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Yes, you can create a new Apple ID and password, and reset the iPad to use your new Apple account information.
To create a new Apple account, go to:
To reset the iPad and add your own account information, hold down the Home and Power buttons at the same time for 15 seconds whilst connected to a computer with iTunes.
iTunes will detect the iPad in recovery mode. Restoring the iPad using this method will make it like a brand new device.
Once it's finished you can sign in with your new Apple account.