Explanation
A form-associated element can have a relationship with a form element, which is called the element's form owner. If a form-associated element is not associated with a form element, its form owner is said to be null.
A form-associated element is, by default, associated with its nearest ancestor form element (as described below), but, if it is reassociateable, may have a form attribute specified to override this.
http://www.w3.org/TR/html5/forms.html#form-owner
This is useful for example to circumvent HTML's lack of support for nested forms.
Example
<!--
Send the forms and check your network tab
to see which data gets sent when submitting each form
-->
<form id="outer" action="/dev/null" method="POST" target="nowhere">
<input name="belongs-to-outer" />
<input type="submit" value="outer" />
<!-- This imitates our nested form -->
<div>
<!-- binding the inputs to our fake form (form="inner")-->
<input name="belongs-to-inner" form="inner" />
<input type="submit" value="inner" form="inner" />
</div>
</form>
<!-- The inner form actually placed outside to stay conform to the standards -->
<form id="inner" action="/dev/null" method="POST" target="nowhere"></form>
<!-- Just an iFrame where the forms get sent, because we do not want the page to change -->
<iframe name="nowhere" style="display:none"></iframe>