Okay, here's what happens with all four Death Notes for the first seven volumes (I don't have any of the others to reference, unfortunately).
Ryuk, Jealous, Rem and Shidoh all own Death Notes.
Ryuk takes Shidoh's, gaining ownership.
Rem takes Jealous', gaining ownership.
Ryuk drops Shidoh's, and Light picks it up, gaining ownership.
Rem gives Misa Jealous' Death Note, transfering ownership to her.
Misa relinquishes ownership of Jealous' Death Note (Light is in posession of it, so he gains ownership).
Light hands Rem Jealous' Death Note, giving her ownership. She then proceeds to hand it to Ryuk, who drops it for Light. Light now has ownership (since Ryuk was the previous owner, when Misa later picks it up she is followed by Ryuk instead of Rem, who died anyway).
Light hands Ryuk Shidoh's Death Note, giving him ownership. He then gives it to Rem, who now has ownership.
Light relinquishes ownership of Jealous' Death Note while imprisoned by L, wiping his memories clean. Ryuk is now the owner.
Rem gives Shidoh's Death Note to Kyosuke Higuchi, giving him ownership.
Light kills Higuchi while holding Shidoh's Death Note, transfering ownership to him.
Misa digs up Jealous' Death Note, giving her ownership. She is now followed by Ryuk.
Light picks up Rem's Death Note after she dies, gaining ownership.
I'll lengthen this list when I obtain the other volumes (or decide to download the chapters for reference).