You can take back an asset that has been handed over and assign it to another employee.
Cancel the handover on the person it is currently assigned to, then assign the asset to whoever you want.
The handover history is kept. Who held the asset on which date is recorded and can be reported on, so you can use the same route for short-term handovers.
The same applies to vehicles: define the vehicle first, then assign it to an employee, or change the assignment, from the vehicle assignments area.