I have a well established domain that's been hit with some penalties. It hasn't been nuked off the map, just downgraded, especially on short-tail, one word type queries. I'm planning on redirecting this domain to another well established domain. The domains already have a history of lots of interlinking and are very similar from a subject matter standpoint.

I feel that the penalized domain has been hit with an "over-optimization" of link anchor text penalty (I'm hoping it's algorithmic, but it could be manual). My question is if anyone has ever heard of a penalty like this being transferred to another domain through a 301 redirect. My hope is that the penalty just puts a cap on how much juice the redirect can pass, rather than transferring the penalty to the other domain itself.

Any thoughts on this?