I was #2 in a faction before the leader went awol and has not been heard from since. I manage many facilities for him, but there is no way for me to transfer ownership at the moment. I think I found his character in darkness just parked. I heard that there would be rules developed to handle simillar situations.
What can be done?
Loyalty above all. Those who betray friends must perish.
Iirc, a faction needs an active leader and semi-active owner (the first one is noted on the rules pages, now sure if the second one is still in effect), so in case the leader doesn't log in for 14 days, leadership of the faction should by default go to the 2IC ...
Similar conditions should apply to ownership of the faction, otherwise it might be unable to function completely.