I have a Red Ghost pet which coincidently offers the spell of the same name. I also have an Avenging Fossil with the spells Deathblade, and Feint.
Is it possible for me to have an Avenging Fossil acquire the Red Ghost spell from the Red Ghost pet if I choose to hatch them? Likewise, if the Red Ghost could acquire Deathblade and/or Feint, this is acceptable as well.
I have wizards/pets in other schools as well, so this question would apply to them as well.
Spells acquired by talents can be hatched to another pet type. Spells that a pet gets at certain levels because of it's type cannot be hatched to a another type. Your example of Red Ghost, the spell cards given are a part of the pet type, NOT a talent. You get one at Ancient, Epic and Mega regardless of what talents it has. Feint is both, certain pets have Feint always as a spell card given at a certain level, there is also a talent that gives a feint card. The talent can be hatched to another pet type, the intrinsic abilty cannot.
Talents can pass from pet to pet, but no, the given at baby card is unique to the body type. So Red Ghost is always on Red Ghost (or Penumbra Drake). You can't change those cards.