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In this video, Craig from SharePoint Maven demonstrates how to transfer the ownership of a Microsoft Form to a Microsoft 365 group. Initially, forms created in Microsoft Forms are owned by the individual account of the creator, meaning they can manage responses exclusively. To transfer ownership, the creator should click the three dots on the form they wish to transfer and select the "move" option. This action allows the creator to choose a destination from a list of all Microsoft 365 groups available within their tenant, effectively shifting ownership and enabling group access and management of the form.