hehe.... funny you should ask, because I was wondering the same.
Yesterday I made a "clan leadership transfer" and according to the patch notes will it be activated right after maintenance on thuesday.
I have a lot of B/A keymats in the clanwh, so I really dont hope they will get lost.
So just to be sure, I'm transferring all this stuff to a lowbie on my other accounts.
From a player point of view it would seem that the privlages of the Clan leader are removed and given to another member....
You won't lose anything because NCSoft hopefully has things setup to be affiliated with the clan...ie..A Castle is Owned by the clan XXX with the leader YYY....NOT A Castle is owned by leader YYY who is in the clan XXX.
The second version would prove to be harder to code b/c of the werid (And direct) references that it contains.
Well today Teon had an un-scheduled restart and therfor the Clan Leadership Transfer was done.
I rushed to the clan wh to see if my stuff still was there, and gladly it was :).
So I guess all that is needed to do the Clan Leader Transfer is a server restart un-schedueled or scheduled (the one on thuesday).
After the clan leader transfer everything is as it was with the former clan leader, the only thing you should remember is that the former clan leader have no privaliges as standard, so the new clan leader(or who is given the right to give clan privs.) have to give the former clan leader the proper privaliges.
Other then that, everything works great, a really nice new function in C5.