how to move data from one to other record within the same object.

Record Y Does not exist always.

Moving Record x will have to create Record Y. which means when i click the move buutton a new row or record(Record Y) has to created.

 OR

It would be perfect if Record X is moved under from My Entitlement1 to My Entitlement2 when i click the move button. Where both the entitlements (My Entitlement1 and My Entitlement2) belong to the same account.

This way we will not have any child record under My Entitlement1 after the move has happened.