diff --git a/java/c/src/main/java/org/apache/arrow/c/CDataReferenceManager.java b/java/c/src/main/java/org/apache/arrow/c/CDataReferenceManager.java
index c5c2f977900..84f8f3dc6c5 100644
--- a/java/c/src/main/java/org/apache/arrow/c/CDataReferenceManager.java
+++ b/java/c/src/main/java/org/apache/arrow/c/CDataReferenceManager.java
@@ -104,7 +104,21 @@ public ArrowBuf deriveBuffer(ArrowBuf sourceBuffer, long index, long length) {
 
   @Override
   public OwnershipTransferResult transferOwnership(ArrowBuf sourceBuffer, BufferAllocator targetAllocator) {
-    throw new UnsupportedOperationException();
+    ArrowBuf targetArrowBuf = this.deriveBuffer(sourceBuffer, 0, sourceBuffer.capacity());
+    targetArrowBuf.readerIndex(sourceBuffer.readerIndex());
+    targetArrowBuf.writerIndex(sourceBuffer.writerIndex());
+
+    return new OwnershipTransferResult() {
+      @Override
+      public boolean getAllocationFit() {
+        return true;
+      }
+
+      @Override
+      public ArrowBuf getTransferredBuffer() {
+        return targetArrowBuf;
+      }
+    };
   }
 
   @Override
diff --git a/java/c/src/test/java/org/apache/arrow/c/RoundtripTest.java b/java/c/src/test/java/org/apache/arrow/c/RoundtripTest.java
index 059ca328453..771397b36dd 100644
--- a/java/c/src/test/java/org/apache/arrow/c/RoundtripTest.java
+++ b/java/c/src/test/java/org/apache/arrow/c/RoundtripTest.java
@@ -99,6 +99,7 @@
 import org.apache.arrow.vector.types.pojo.Field;
 import org.apache.arrow.vector.types.pojo.FieldType;
 import org.apache.arrow.vector.types.pojo.Schema;
+import org.apache.arrow.vector.util.TransferPair;
 import org.junit.jupiter.api.AfterEach;
 import org.junit.jupiter.api.BeforeEach;
 import org.junit.jupiter.api.Test;
@@ -704,6 +705,37 @@ public void testImportReleasedArray() {
     }
   }
 
+  @Test
+  public void testTransferImportedBuffer() {
+    VectorSchemaRoot imported;
+
+    // Consumer allocates empty structures
+    try (ArrowSchema consumerArrowSchema = ArrowSchema.allocateNew(allocator);
+        ArrowArray consumerArrowArray = ArrowArray.allocateNew(allocator)) {
+      try (VectorSchemaRoot vsr = createTestVSR()) {
+        // Producer creates structures from existing memory pointers
+        try (ArrowSchema arrowSchema = ArrowSchema.wrap(consumerArrowSchema.memoryAddress());
+            ArrowArray arrowArray = ArrowArray.wrap(consumerArrowArray.memoryAddress())) {
+          // Producer exports vector into the C Data Interface structures
+          Data.exportVectorSchemaRoot(allocator, vsr, null, arrowArray, arrowSchema);
+        }
+      }
+      // Consumer imports vector
+      imported = Data.importVectorSchemaRoot(allocator, consumerArrowArray, consumerArrowSchema, null);
+    }
+
+    try (BufferAllocator targetAllocator = allocator.newChildAllocator("transfer allocator", 0, Long.MAX_VALUE)) {
+      for (FieldVector fieldVector : imported.getFieldVectors()) {
+        int cnt = fieldVector.getValueCount();
+        // Transfer buffer ownerships. Should not report any error
+        TransferPair transferPair = fieldVector.getTransferPair(targetAllocator);
+        transferPair.transfer();
+        ValueVector to = transferPair.getTo();
+        assertEquals(cnt, to.getValueCount());
+      }
+    }
+  }
+
   private VectorSchemaRoot createTestVSR() {
     BitVector bitVector = new BitVector("boolean", allocator);