I've had some users report to me that for Accounts of which they are the Owner, when they try to change the Owner to another user they can an "Insufficient Privileges" error as below:

Insufficient Privileges You do not have the level of access necessary to perform the operation you requested. Please contact the owner of the record or your administrator if access is necessary.

What permissions need to be granted to allowing a user to change the Owner of an account. I thought that if they were the Owner, they would have the permission to change the Owner to someone else.

Thanks for the assistance.