A family of Microsoft products that enable users to capture, organize, and reuse notes electronically.
Hi James,
There is no official "way" to transfer ownership in OneNote. You can grant the user full access to the notebook, but it actually still exists inside the same place. If it is your personal notebook, it exists in your OneDrive for Business. There are also notebook that are located in SharePoint Online.
So if you want to transfer ownership of your notebook, the other user can just move the contents to a new notebook. For your reference:
Move a OneNote for Windows notebook that you've shared with others
Regards,
Sheen