What action should be taken to revoke access to an envelope before transferring it?

To revoke access to an envelope before transferring it, canceling the current ownership is the appropriate action. This ensures that the original owner no longer has access to the envelope, thus preventing any unintended alterations or actions that could affect the transfer process. Cancelling the ownership grants control exclusively to the new owner, allowing for a smooth transition and safeguarding the integrity of the envelope's contents.

This process is critical because once an envelope's ownership is canceled, it effectively removes access from the previous owner, ensuring that there are no conflicting actions that could arise during the transfer. This step is particularly relevant in contexts where sensitive information is involved, reinforcing the need for a clear and organized handover of responsibility.

While transferring ownership immediately might seem like an option, doing so without revoking access could lead to confusion and potential mismanagement of the envelope. Similarly, notifying stakeholders and setting a transfer date, while important in their own contexts, do not directly address the need to revoke current access from the envelope’s previous owner before the transfer. Thus, canceling the current ownership is a critical step to maintain a secure and efficient transfer process.