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Uma K 1Uma K 1 

change owner

DeepthiDeepthi (Salesforce Developers) 
Hi Uma,

These are the abilities to Change Ownership:
  • Users with the “Modify All Data” permission, or users with the “Modify All” permission for the given object, can transfer any record, regardless of who owns the record.
  • To transfer a single record or multiple records from a list view, the new owner must have at least the “Read” permission on the object type. This rule does not apply if you use the mass transfer tool.
  • To transfer ownership of any single record in an organization that does not use territory management, a user must have the appropriate “Edit” permission and either own the record or be above the owner in the role hierarchy.
  • For example, to transfer ownership of an account, a user must have “Read” and “Edit” access to the account. Additionally, the new owner of the record must have at least “Read” permission on accounts.
  • The Public Full Access and Public Read/Write/Transfer sharing settings give all users the ability to transfer ownership of that type of record as long as they have the appropriate “Edit” permission.
  • In organizations that use territory management, users that have been assigned to territories can be enabled to transfer the accounts in their territories, even if they are not the record owner.
  • To transfer campaigns, users must also have the Marketing User checkbox selected on their user record.
For more details, check the below link:
https://help.salesforce.com/HTViewHelpDoc?id=account_owner.htm

Hope this helps you!
Please mark this solution as Best Answer if it answers your question.

Best Regards,
Deepthi