Transferring an existing domain name entails switching the registrar company that provides the domain registration service, so after the transfer, you will have to manage things like renewal payments or DNS entry modifications through the new registrar company. The transfer process itself is standard with most TLD extensions. Some country-code extensions are more specific and entail different steps, but in the general case transferring a domain name entails a few necessary steps and one of them is unlocking the domain. The lock is a security feature, which is being embraced by more and more registry operators. It’s a default feature supported by all generic Top-Level Domains. If a domain name is locked, it will be impossible to initiate a transfer procedure, so no one can even attempt to snatch your domain. The lock can be annulled only through the account where the domain is registered in the first place and all new domain names that support this option are locked by default the moment they are registered.