Sales Cloud in Release 11 saw the addition of a new utility tool called ‘Mass Record Transfer’ which allows for mass change of ownership of records.
This is particularly useful when salesreps change jobs, or switch territories. This utility allows to mass transfer ownership to whomever will be the next owner of the records in one single process. Although custom objects do not have to have an official owner field, a custom field representing an owner can be selected in order to transfer records from one owner to the next.
How to Mass Record Transfer
All it takes to transfer records is to choose from whom to whom which types of records you want to transfer.
And once some additional filters were used to narrow down in more detail the records to be transferred, all that is left is to submit the process.
Piece of cake.