Admin Access Denied to Change Folder Permissions

Today I was trying to change permissions on a folder in Windows Server 2008 R2 and I kept getting an "access denied" error. I'm the domain admin, so it was kind of perplexed. After some researching, I found a very quick solution so I decided to post it. I tried taking ownership of it using the GUI, but no dice. All I had to do is open an elevated (right click and run as administrator) command window and take ownership of the folder by running the following command.

takeown /f "D:\FOLDER NAME" /r /d y