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The transport types:

K type: The system owner does not get changed with K type transport. This kind of transport is only allowed to consolidation and production system. After the K type of transport is done no correction is allowed to those objects. Any changes to K type transport objects in consolidation system are called repair.
The repairs can be done to those objects if the change option is selected in SE06 and change option is there in client level selection in T00 table. Generally K type transport is used for stage and production environment.

C type: With the C type transport the ownership of that object is also transferred to the target. After the transport is done, the target system is the owner of the transported objects. The objects will be originals of the target system. These kind of transports are generally done in a four tier architecture, where a bundle of development objects can go from the sandbox environment to development environment or development environment to integration environment and vice versa. SAP recommends doing these transports when the objects should move to another system for further development work.

T type: T type is called a transport of copy. The ownership of the object remains with the source; the target system just gets the copy of the objects. When a sap patch is applied to the development system and transported to other systems, those are perfect example of T type transports.