Meaning of the word transferability in English

What does transferability mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

transferability

US /trænsfərəˈbɪləti/
UK /trænsfərəˈbɪləti/

Noun

the quality of being able to be transferred or moved from one place, person, or situation to another

Example:
The transferability of skills is crucial in a changing job market.
The contract includes a clause regarding the transferability of ownership.