what does this mean exactly? I have seen too many answers to get one final ruling on it. Please help me out.

it basically means that during your recruit step you can transfer said equipment to another character if you want to.

An equipment with the keyword 'transferable' can be switched to any character you control once per turn at no cost. I think you can only do this at the beginning of the formation step, but it could be at some point during the recruit step. I'm not positive about that.

Its during your formation step.

yeah, they basically said it
move it 2 ur strongest character or ur character that needs it
during your recruit step

i think it's a pretty good ability actually
usually u put an equip on a character
then next turn if u need it on some1 else, tough luck
but now u can move it every turn, pretty good if u ask me

stretches ability is still better, but its not bad

Edit : Finding the correct wording..

--------------------------------------
Found it -
Credit : Zaxx