So long as you aren't detected, stolen items are no longer marked as such when taken.
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File credits
Skycaptain, for help with the script, & crysallus for debug assistance.
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Description For some reason Bethesda made NPCs capable of identifying which items in your inventory were stolen.
This mod removes the "stolen item" flag from any item you steal, so long as you aren't seen doing it.
Items in containers don't change ownership when taken. You can simply drop the item onto the ground and pick it back up from the floor if you want to change its ownership. This also makes it possible to complete the Thieves' Guild quest line, since only items marked as stolen will progress you through it.
Credits Thanks to Skycaptain and crysallus for helping with the script.
Changelog .02: Fixed a problem with doors changing to the player's ownership, removing the need to pick the door's locks.