diff --git a/README.md b/README.md
index a9e0e0a18..fb29684ae 100644
--- a/README.md
+++ b/README.md
@@ -3,7 +3,7 @@ Gogs - Go Git Service [![Build Status](https://travis-ci.org/gogits/gogs.svg?bra
 
 ![](https://github.com/gogits/gogs/blob/master/public/img/gogs-large-resize.png?raw=true)
 
-##### Current tip version: 0.9.49 (see [Releases](https://github.com/gogits/gogs/releases) for binary versions)
+##### Current tip version: 0.9.50 (see [Releases](https://github.com/gogits/gogs/releases) for binary versions)
 
 | Web | UI  | Preview  |
 |:-------------:|:-------:|:-------:|
diff --git a/gogs.go b/gogs.go
index 3f53415c9..ba014f417 100644
--- a/gogs.go
+++ b/gogs.go
@@ -17,7 +17,7 @@ import (
 	"github.com/gogits/gogs/modules/setting"
 )
 
-const APP_VER = "0.9.49.0723"
+const APP_VER = "0.9.50.0723"
 
 func init() {
 	runtime.GOMAXPROCS(runtime.NumCPU())
diff --git a/models/repo.go b/models/repo.go
index f8782db71..e1073419a 100644
--- a/models/repo.go
+++ b/models/repo.go
@@ -1187,6 +1187,7 @@ func TransferOwnership(u *User, newOwnerName string, repo *Repository) error {
 	}
 
 	// Rename remote repository to new path and delete local copy.
+	os.MkdirAll(UserPath(newOwner.Name), os.ModePerm)
 	if err = os.Rename(RepoPath(owner.Name, repo.Name), RepoPath(newOwner.Name, repo.Name)); err != nil {
 		return fmt.Errorf("rename repository directory: %v", err)
 	}
diff --git a/templates/.VERSION b/templates/.VERSION
index 44624fa63..8df80398e 100644
--- a/templates/.VERSION
+++ b/templates/.VERSION
@@ -1 +1 @@
-0.9.49.0723
\ No newline at end of file
+0.9.50.0723
\ No newline at end of file