Change Author on Edit 1.0

Change Author on Edit lets you add to certain usergroups the ability to change the author of a thread upon editing of the first post. It's as simple as it sounds. The plugin adds 1 setting to each usergroup's permissions page.

Minimum requirements

PHP 5.4
MyBB 1.6.0

Availability

A Basic, Advanced or Ultimate subscription is required to download Change Author on Edit (click here to subscribe). Alternatively, you can perform a single purchase by adding the item to your cart and checkout at a later date. You can purchase using PayPal or several cryptocurrencies. Every successful payment lasts forever and may be refunded within 30 days if you are not satisfied.

Before purchasing or subscribing, read the End-User License Agreement (EULA).

Is this plagin compatible with 1.8.24?
Have I understood correctly that it willl alow me to change the author of a thread? New author will be a full owner of a thread?

Yes, it should be compatible. You may experience some warnings, but it should work as expected and as you described.