Sarah, I don't want to put a lot of effort into repeating descriptions which are all over this forum and the next. You'll search it out if you're interested (or someone else will step up). These questions are asked approximately weekly.
The simple fact is that the document allowing use but retaining ownership that you're describing is forbidden by the regulations around temporary importation of vehicles in most, if not all, Latin American countries. A persuasive rider with a wallet full of small bills might be able to finesse it....or not, depending on who-know-what. That leaves a genuine or fake transfer of ownership as the best scenario, with accompanying questions about what is the best way to accomplish this in your specific case.
Hope that's helpful.
Mark
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