Change Item Owner moves items from one profile to another. For example, it can move songs uploaded to the wrong profile, or the photos of a member who left to a new profile.
ACP > Modules > Admin > Change Item Owner
It has no settings. When it's active, modules that store items get a Change Owner tool on their Tools tab. Profiles, users, forums and group pages don't get one. Only master admins can use it.
On the module's Tools > Change Owner:
After the move, the module fires the owner_changed event, so your module can update its own data about the items.