We tried many combinations. Both characters are Templar, one of them is the Guild Master.
Both in same party, New-Templar guild-less.
Both in same party, New-Templar in guild.
No party, New-Templar guild-less.
No party, New-Templar in guild.
All done in the hangout as stated. Both character context menu and guild tab context menu.
Also no additional options on the tower inside the hangout.
If only IMC can clarity the procedures better than just:
“A guildmaster can now pass on the position to another Templar character at the Guild Hangout. After the position transfer, the position cannot be transferred back for 7 days.”

