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In this tutorial, Craig from SharePoint Maven explains how to transfer ownership of a Microsoft Form to a Microsoft 365 group. When a form is created, it belongs to the individual account of the creator, which means they are the sole manager of responses and data. To change ownership, the creator must click on the three dots next to the form and select "move." This action will allow them to choose from a list of all Microsoft 365 groups available within their tenant for the transfer. The tutorial emphasizes the steps to ensure proper management and collaboration on forms within teams.