The pledged object belonged to the pledgor both before and after the loan back. What changes is physical custody and the consequence of accidental loss, not title to the asset.
If pledged jewelry is temporarily returned to its owner, the loan has not been forgiven and the security arrangement has not necessarily been dissolved. The particular rule concerns the legal consequences of temporary return and receipt.
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Loan back does not transfer ownership
Kitab al-Rahn: Misuse, Loan Back, Liability and Death of the Pledgor
The pledged object belonged to the pledgor both before and after the loan back. What changes is physical custody and the consequence of accidental loss, not title to the asset.
If pledged jewelry is temporarily returned to its owner, the loan has not been forgiven and the security arrangement has not necessarily been dissolved. The particular rule concerns the legal consequences of temporary return and receipt.