Ownership transfer refers to the process of legally changing the ownership of an asset or property from one party to another. This can occur through various means, such as sale, gift, or inheritance. The transfer is typically documented through legal agreements, ensuring that the new owner has the rights to the asset. In real estate, for example, ownership transfer involves a deed that outlines the details of the transaction. This document is often recorded with a government authority to provide public notice of the change in ownership. Properly executed ownership transfers help prevent disputes and clarify rights associated with the asset.