When you initiate a domain transfer from GoDaddy to another registrar like Namecheap, you retain ownership of your domain name throughout the transfer process. The process involves moving the registration of the domain from GoDaddy to the new registrar, but your ownership and control of the domain name remain intact.

Here's what happens during the domain transfer:

Authorization Code (EPP Code): You request an authorization code (also known as an EPP code) from GoDaddy. This code is necessary to initiate the transfer process and confirms your authority to move the domain.

Initiate Transfer with New Registrar: After obtaining the authorization code, you initiate the transfer process with the new registrar, in this case, Namecheap.

Confirmation of Transfer: During the transfer process, GoDaddy is notified of the transfer request. They may send you an email to confirm the transfer. You must approve this request to proceed with the transfer.

Transfer Approval: You, as the domain owner, need to confirm the transfer using the authorization code. This is a crucial step to ensure that you authorize the domain transfer.

Transfer Process: The transfer process typically takes 5-7 days. During this period, GoDaddy reviews and approves the transfer request.

Transfer Completion: Once the transfer is approved and completed, your domain will be under the management of the new registrar, in this case, Namecheap.

At no point in this process do you lose ownership or control of your domain name. The only change is the registrar managing the domain registration. After the successful transfer, you can manage your domain through Namecheap or any other registrar you choose.

It's essential to follow the transfer process carefully and promptly respond to any verification requests from both GoDaddy and the new registrar to ensure a smooth and successful domain transfer.