Objects always inherit their security settings from their home folder/portfolio. Objects do not inherit security settings from other folders/portfolios to which they are added.
If an object's inheritance option is unselected, the object is still connected to its home portfolio even though it does not inherit the security setting from the home folder/portfolio. When the object's inheritance option is reselected, the object inherits the security settings from the home folder once again. New objects are set to inherit their security settings from their home folder. This setting may be changed during the creation process or at any other time.
Note: When creating new objects in places other than the setup module, the home folder is selected automatically by the system. To view or change the automatically-selected home folder, go to the In Folders step of the object's wizard.
To change an object's home folder/portfolio, you must have Admin permission for the object since you are changing the object's security permissions. Refer to Changing an Object's Home Folder in Organizing Hierarchies.