Considering the increasing deployment of IoT devices, their ownership is likely to change during their life cycle. Personal IoT devices used in smart home environment contain privacy sensitive user data. Ownership change of such devices can introduce threats against privacy sensitive data handled by them. To address this problem, we present a system called chownIoT for securely handling ownership change of IoT devices. chownIoT introduces a privacy enhancement protocol that leverages authentication and data encryption for protecting owner privacy. We also present an owner profile management scheme for better management of owners during the life cycle of a device. For automatic detection of ownership change, we use a simple technique which leverage the context of a device. Finally, we present a prototype that implements chownIoT including the privacy enhancement protocol and the owner profile management scheme.