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I've bought her a couple - she's done the same...

Is there any formality necessary to claiming individual ownership?

Nope. Spouses, siblings, parents/children, first cousins, aunt/uncle/niece/nephew, and parent-in-laws are exempt from Oregon's UBC nonsense.
 
Thanks. That's what I thought. I knew there was no check - or, permission to transfer.
Just wondered if there was some notification necessary.
 
I had a transfer to my wife at the time and there was loads of paperwork. She got the house half the stocks. Alimony. I'd have to say that transfer was way worse than a 4473
 
Sounds like you have a solid answer that we can't disagree with.

Closing (to keep the answer clean and succinct).
 
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