Ownership is a core concept in Rust that determines how memory is managed at runtime.Each value in Rust has a single owner (a variable) and when the owner goes out of scope, the value is dropped.Ownership transfer in Rust prevents memory leaks and dangling pointers by ensuring clear responsibility for cleaning up memory.Rust uses borrowing to allow read-only or write access to values without taking ownership, avoiding data races and null/dangling pointers.