Honestly the way I'd do it is just make a copy of each item in each Inventory. Whoever loans out will get a 'disabled' flag on their local copy of the item, but get to keep it, it would also say who the item is loaned to, and would disabled until the end date. Whoever receives it will get an untradeable copy that is only enabled until the end date. Then deleted automatically upon inv save/load.
Also I'd call it 'item previewing' not temp trading.
Also I'd call it 'item previewing' not temp trading.