diff --git a/docs/release-notes/version-3.3.md b/docs/release-notes/version-3.3.md
index 857529e83..aa09f3f19 100644
--- a/docs/release-notes/version-3.3.md
+++ b/docs/release-notes/version-3.3.md
@@ -16,6 +16,7 @@
 * [#10579](https://github.com/netbox-community/netbox/issues/10579) - Mark cable traces terminating to a provider network as complete
 * [#10721](https://github.com/netbox-community/netbox/issues/10721) - Disable ordering by custom object field columns
 * [#10929](https://github.com/netbox-community/netbox/issues/10929) - Raise validation error when attempting to create a duplicate cable termination
+* [#10936](https://github.com/netbox-community/netbox/issues/10936) - Permit demotion of device/VM primary IP via IP address edit form
 * [#10938](https://github.com/netbox-community/netbox/issues/10938) - `render_field` template tag should respect `label` kwarg
 * [#10969](https://github.com/netbox-community/netbox/issues/10969) - Update cable paths ending at associated rear port when creating new front ports
 
diff --git a/netbox/ipam/models/ip.py b/netbox/ipam/models/ip.py
index 456bab4f0..1859ef3e1 100644
--- a/netbox/ipam/models/ip.py
+++ b/netbox/ipam/models/ip.py
@@ -8,8 +8,6 @@ from django.urls import reverse
 from django.utils.functional import cached_property
 
 from dcim.fields import ASNField
-from dcim.models import Device
-from netbox.models import OrganizationalModel, NetBoxModel
 from ipam.choices import *
 from ipam.constants import *
 from ipam.fields import IPNetworkField, IPAddressField
@@ -17,8 +15,7 @@ from ipam.managers import IPAddressManager
 from ipam.querysets import PrefixQuerySet
 from ipam.validators import DNSValidator
 from netbox.config import get_config
-from virtualization.models import VirtualMachine
-
+from netbox.models import OrganizationalModel, NetBoxModel
 
 __all__ = (
     'Aggregate',
@@ -912,18 +909,6 @@ class IPAddress(NetBoxModel):
                         )
                     })
 
-        # Check for primary IP assignment that doesn't match the assigned device/VM
-        if self.pk:
-            for cls, attr in ((Device, 'device'), (VirtualMachine, 'virtual_machine')):
-                parent = cls.objects.filter(Q(primary_ip4=self) | Q(primary_ip6=self)).first()
-                if parent and getattr(self.assigned_object, attr, None) != parent:
-                    # Check for a NAT relationship
-                    if not self.nat_inside or getattr(self.nat_inside.assigned_object, attr, None) != parent:
-                        raise ValidationError({
-                            'interface': f"IP address is primary for {cls._meta.model_name} {parent} but "
-                                         f"not assigned to it!"
-                        })
-
         # Validate IP status selection
         if self.status == IPAddressStatusChoices.STATUS_SLAAC and self.family != 6:
             raise ValidationError({