This is a good question...
I'm selling my Canadian-plated Jeep right now in BA and have been trying to do what you are talking about for about 2 months.
Tomorrow, I'm going to the head customs office in downtown BA to "authorize" another foreigner to drive my jeep - we both have to be there with valid tourist stamps in our passports and a power of attorney (poder).
The customs offer at the central office obvious deals with this tourist import form problem all day long and is very friendly, and will give you a no-bullshit answer to your question. I would be very surprised if she won't let you move it over into your name. Explain very carefully you "transferred" ownership to you back in the bike's home country and now you are the legal owner, and have all the right paperwork (I would not use the words "sell" or "buy" or mention anything about money).
I've been told customs don't actually care who has the bike in the country, as long as its a foreigner and it's temporary.
It will help immensely if the original owner is with you, passport in hand.
Second to that, you could get a letter from him explaining what is going on, maybe with a copy of his passport and a signature that matches the temp. import form.
I'm having my temp. import form canceled and a new one made up (with the authorization), the customs officer said absolutely no problems the two times we went back for clarifications.
Other customs offices have said this is not possible.
The central customs office is smack in the middle of downtown, on the street that runs on the southern edge of the central square, right in front of the square (sorry, forget the name right now)
Enter on the ground floor, through the door opposite the elevators, turn left, walk to the end, then turn right and immediately on your right you will see a sign talking about extending the temp. import form for foreigners . Ask here.
-Dan
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