Domain Name Transfers - 5 Days and they're mine?

[Yug]

Im actually just looking for a little more clarification here about a topic which seems to be a few months old but which I have only just found out about.

According to the ICANN, if you request transfer on an unlocked domain, and the owner of that domain does not respond to that transfer within 5 days, the transfer is automatically approved.

http://www.icann.org/transfers/policy-12jul04.htm

Section 3, 5th Paragraph:
Failure by the Registrar of Record to respond within five (5) calendar days to a notification from the Registry regarding a transfer request will result in a default "approval" of the transfer.

Now I have all my domains locked down now which is fine, but is that to say that if i find a domain that is NOT locked down, and the owner dosen't check their email for 5 days, i could just request a transfer of that domain and it would all be approved? And this would be completely legal?

Sorry if this topic has been raised before, but I am having trouble finding out if this is already a well known fact or not.

<_<