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Security/privacy issues are of paramount importance for widespread acceptance and use of radio-frequency identification (RFID) tags. Over the last few years, researchers have addressed this issue through lightweight cryptographic means. While a majority of existing RFID security/privacy protocols address authentication issues, the ability to change as well as share ownership of these tagged objects is equally important. We consider a few RFID ownership transfer variations and propose protocols that are lightweight and secure. We consider ownership transfer scenarios for single tag-single owner with and without a trusted third party (TTP). We provide security analysis to evaluate the accuracy, confidentiality, and forward security of the proposed protocols from a cryptography perspective.