Hey @Keval K -- thanks for posting! You can share your shape library using the Share modal within the shape library tab seen here: 

This will allow your collaborator to edit and share the library, however, there is no way to transfer ownership of that library. 

Hope this helps clarify -- let me know if you have any additional questions!

Thanks for the information, in the event of the account that made the custom shape library being deleted, can the shape library ownership be transferred?

Hey @Keval K -- good question! Because you’re asking about sharing a shape library, I’m assuming you’re on a Team or Enterprise subscription. That being said, if a user is on that type of subscription, all files relating to their account are owned by the team. If a shape library has been shared with the entire team, it will stay shared and usable for the team. Once a user is deleted from a Team or Enterprise subscription, all files from that subscription will stay with the team -- this includes documents and shape libraries. 

Hope this helps clarify!