diff --git a/aptos-move/framework/aptos-token-objects/doc/collection.md b/aptos-move/framework/aptos-token-objects/doc/collection.md
index 8c992d2badc36..59b704ea47bc0 100644
--- a/aptos-move/framework/aptos-token-objects/doc/collection.md
+++ b/aptos-move/framework/aptos-token-objects/doc/collection.md
@@ -980,9 +980,6 @@ TODO: Hide this until we bring back meaningful way to enforce burns
         <a href="royalty.md#0x4_royalty_init">royalty::init</a>(&constructor_ref, <a href="../../aptos-framework/../aptos-stdlib/../move-stdlib/doc/option.md#0x1_option_extract">option::extract</a>(&<b>mut</b> <a href="royalty.md#0x4_royalty">royalty</a>))
     };
 
-    <b>let</b> transfer_ref = <a href="../../aptos-framework/doc/object.md#0x1_object_generate_transfer_ref">object::generate_transfer_ref</a>(&constructor_ref);
-    <a href="../../aptos-framework/doc/object.md#0x1_object_disable_ungated_transfer">object::disable_ungated_transfer</a>(&transfer_ref);
-
     constructor_ref
 }
 </code></pre>
diff --git a/aptos-move/framework/aptos-token-objects/doc/token.md b/aptos-move/framework/aptos-token-objects/doc/token.md
index b4c53eb85ef63..0068cdeaf002b 100644
--- a/aptos-move/framework/aptos-token-objects/doc/token.md
+++ b/aptos-move/framework/aptos-token-objects/doc/token.md
@@ -380,6 +380,16 @@ The URI is over the maximum length
 
 
 
+<a id="0x4_token_ENOT_OWNER"></a>
+
+The calling signer is not the owner
+
+
+<pre><code><b>const</b> <a href="token.md#0x4_token_ENOT_OWNER">ENOT_OWNER</a>: u64 = 8;
+</code></pre>
+
+
+
 <a id="0x4_token_EDESCRIPTION_TOO_LONG"></a>
 
 The description is over the maximum length
@@ -542,7 +552,7 @@ The token name is over the maximum length
     <a href="royalty.md#0x4_royalty">royalty</a>: Option&lt;Royalty&gt;,
     uri: String,
 ) {
-    <b>assert</b>!(<a href="collection.md#0x4_collection_creator">collection::creator</a>(<a href="collection.md#0x4_collection">collection</a>) == <a href="../../aptos-framework/../aptos-stdlib/../move-stdlib/doc/signer.md#0x1_signer_address_of">signer::address_of</a>(creator), <a href="../../aptos-framework/../aptos-stdlib/../move-stdlib/doc/error.md#0x1_error_unauthenticated">error::unauthenticated</a>(<a href="token.md#0x4_token_ENOT_CREATOR">ENOT_CREATOR</a>));
+    <b>assert</b>!(<a href="../../aptos-framework/doc/object.md#0x1_object_owner">object::owner</a>(<a href="collection.md#0x4_collection">collection</a>) == <a href="../../aptos-framework/../aptos-stdlib/../move-stdlib/doc/signer.md#0x1_signer_address_of">signer::address_of</a>(creator), <a href="../../aptos-framework/../aptos-stdlib/../move-stdlib/doc/error.md#0x1_error_unauthenticated">error::unauthenticated</a>(<a href="token.md#0x4_token_ENOT_OWNER">ENOT_OWNER</a>));
 
     <b>if</b> (<a href="../../aptos-framework/../aptos-stdlib/../move-stdlib/doc/option.md#0x1_option_is_some">option::is_some</a>(&name_with_index_suffix)) {
         // Be conservative, <b>as</b> we don't know what length the index will be, and <b>assume</b> worst case (20 chars in MAX_U64)
diff --git a/aptos-move/framework/aptos-token-objects/sources/collection.move b/aptos-move/framework/aptos-token-objects/sources/collection.move
index b3adbf6f3bc6a..af88007f84dfa 100644
--- a/aptos-move/framework/aptos-token-objects/sources/collection.move
+++ b/aptos-move/framework/aptos-token-objects/sources/collection.move
@@ -296,9 +296,6 @@ module aptos_token_objects::collection {
             royalty::init(&constructor_ref, option::extract(&mut royalty))
         };
 
-        let transfer_ref = object::generate_transfer_ref(&constructor_ref);
-        object::disable_ungated_transfer(&transfer_ref);
-
         constructor_ref
     }
 
@@ -750,9 +747,9 @@ module aptos_token_objects::collection {
     }
 
     #[test(creator = @0x123, trader = @0x456)]
-    #[expected_failure(abort_code = 0x50003, location = aptos_framework::object)]
     entry fun test_create_and_transfer(creator: &signer, trader: &signer) {
         let creator_address = signer::address_of(creator);
+        let trader_address = signer::address_of(trader);
         let collection_name = string::utf8(b"collection name");
         create_collection_helper(creator, collection_name);
 
@@ -760,7 +757,9 @@ module aptos_token_objects::collection {
             create_collection_address(&creator_address, &collection_name),
         );
         assert!(object::owner(collection) == creator_address, 1);
-        object::transfer(creator, collection, signer::address_of(trader));
+        // Transferring collections is allowed
+        object::transfer(creator, collection, trader_address);
+        assert!(object::owner(collection) == trader_address, 1);
     }
 
     #[test(creator = @0x123)]
diff --git a/aptos-move/framework/aptos-token-objects/sources/token.move b/aptos-move/framework/aptos-token-objects/sources/token.move
index 0d944c99c5cfc..4187f5306393e 100644
--- a/aptos-move/framework/aptos-token-objects/sources/token.move
+++ b/aptos-move/framework/aptos-token-objects/sources/token.move
@@ -33,6 +33,8 @@ module aptos_token_objects::token {
     const EDESCRIPTION_TOO_LONG: u64 = 6;
     /// The seed is over the maximum length
     const ESEED_TOO_LONG: u64 = 7;
+    /// The calling signer is not the owner
+    const ENOT_OWNER: u64 = 8;
 
     const MAX_TOKEN_NAME_LENGTH: u64 = 128;
     const MAX_TOKEN_SEED_LENGTH: u64 = 128;
@@ -154,7 +156,7 @@ module aptos_token_objects::token {
         royalty: Option<Royalty>,
         uri: String,
     ) {
-        assert!(collection::creator(collection) == signer::address_of(creator), error::unauthenticated(ENOT_CREATOR));
+        assert!(object::owner(collection) == signer::address_of(creator), error::unauthenticated(ENOT_OWNER));
 
         if (option::is_some(&name_with_index_suffix)) {
             // Be conservative, as we don't know what length the index will be, and assume worst case (20 chars in MAX_U64)
@@ -722,8 +724,8 @@ module aptos_token_objects::token {
     }
 
     #[test(creator = @0x123, trader = @0x456)]
-    #[expected_failure(abort_code = 0x40002, location = aptos_token_objects::token)]
-    fun test_create_token_non_creator(creator: &signer, trader: &signer) {
+    #[expected_failure(abort_code = 0x40008, location = aptos_token_objects::token)]
+    fun test_create_token_non_collection_owner(creator: &signer, trader: &signer) {
         let constructor_ref = &create_fixed_collection(creator, string::utf8(b"collection name"), 5);
         let collection = get_collection_from_ref(&object::generate_extend_ref(constructor_ref));
         create_token(
@@ -733,16 +735,16 @@ module aptos_token_objects::token {
     }
 
     #[test(creator = @0x123, trader = @0x456)]
-    #[expected_failure(abort_code = 0x40002, location = aptos_token_objects::token)]
-    fun test_create_named_token_non_creator(creator: &signer, trader: &signer) {
+    #[expected_failure(abort_code = 0x40008, location = aptos_token_objects::token)]
+    fun test_create_named_token_non_collection_owner(creator: &signer, trader: &signer) {
         let constructor_ref = &create_fixed_collection(creator, string::utf8(b"collection name"), 5);
         let collection = get_collection_from_ref(&object::generate_extend_ref(constructor_ref));
         create_token_with_collection_helper(trader, collection, string::utf8(b"token name"));
     }
 
     #[test(creator = @0x123, trader = @0x456)]
-    #[expected_failure(abort_code = 0x40002, location = aptos_token_objects::token)]
-    fun test_create_named_token_object_non_creator(creator: &signer, trader: &signer) {
+    #[expected_failure(abort_code = 0x40008, location = aptos_token_objects::token)]
+    fun test_create_named_token_object_non_collection_owner(creator: &signer, trader: &signer) {
         let constructor_ref = &create_fixed_collection(creator, string::utf8(b"collection name"), 5);
         let collection = get_collection_from_ref(&object::generate_extend_ref(constructor_ref));
         create_named_token_object(
@@ -752,8 +754,8 @@ module aptos_token_objects::token {
     }
 
     #[test(creator = @0x123, trader = @0x456)]
-    #[expected_failure(abort_code = 0x40002, location = aptos_token_objects::token)]
-    fun test_create_named_token_from_seed_non_creator(creator: &signer, trader: &signer) {
+    #[expected_failure(abort_code = 0x40008, location = aptos_token_objects::token)]
+    fun test_create_named_token_from_seed_non_collection_owner(creator: &signer, trader: &signer) {
         let constructor_ref = &create_fixed_collection(creator, string::utf8(b"collection name"), 5);
         let collection = get_collection_from_ref(&object::generate_extend_ref(constructor_ref));
         create_named_token_object(
@@ -784,6 +786,43 @@ module aptos_token_objects::token {
         assert!(option::some(expected_royalty) == royalty(token), 2);
     }
 
+    #[test(creator = @0x123, trader = @0x456)]
+    #[expected_failure(abort_code = 0x40008, location = aptos_token_objects::token)]
+    fun test_create_token_after_transferring_collection(creator: &signer, trader: &signer) {
+        let constructor_ref = &create_fixed_collection(creator, string::utf8(b"collection name"), 5);
+        let collection = get_collection_from_ref(&object::generate_extend_ref(constructor_ref));
+        create_token(
+            creator, collection, string::utf8(b"token description"), string::utf8(b"token name"),
+            option::some(royalty::create(25, 10000, signer::address_of(creator))), string::utf8(b"uri"),
+        );
+
+        object::transfer(creator, collection, signer::address_of(trader));
+
+        // This should fail as the collection is no longer owned by the creator.
+        create_token(
+            creator, collection, string::utf8(b"token description"), string::utf8(b"token name"),
+            option::some(royalty::create(25, 10000, signer::address_of(creator))), string::utf8(b"uri"),
+        );
+    }
+
+    #[test(creator = @0x123, trader = @0x456)]
+    fun create_token_works_with_new_collection_owner(creator: &signer, trader: &signer) {
+        let constructor_ref = &create_fixed_collection(creator, string::utf8(b"collection name"), 5);
+        let collection = get_collection_from_ref(&object::generate_extend_ref(constructor_ref));
+        create_token(
+            creator, collection, string::utf8(b"token description"), string::utf8(b"token name"),
+            option::some(royalty::create(25, 10000, signer::address_of(creator))), string::utf8(b"uri"),
+        );
+
+        object::transfer(creator, collection, signer::address_of(trader));
+
+        // This should pass as `trader` is the new collection owner
+        create_token(
+            trader, collection, string::utf8(b"token description"), string::utf8(b"token name"),
+            option::some(royalty::create(25, 10000, signer::address_of(creator))), string::utf8(b"uri"),
+        );
+    }
+
     #[test(creator = @0x123)]
     fun test_collection_royalty(creator: &signer) acquires Token {
         let collection_name = string::utf8(b"collection name");