譲る and 貸す: passing an item on and lending it
Compare passing on a cherished watch with lending a bicycle. Read the transfer direction and the lending relationship without deciding from the verb alone whether money is involved.
Pass the item on to another person
譲る, read ゆずる, means yield or pass on. 祖父は大切にしていた時計を孫に譲った。 says that the grandfather passed his cherished watch on to the grandchild.
The watch was passed on. The verb alone does not specify whether money was involved, and the scene differs from lending an item to be returned.
Lend the item for use
貸す, read かす, means lend. 私は旅行中、友人に自転車を貸した。 says that the speaker lent a bicycle to a friend during the speaker's trip.
私 is the lender and 友人 the borrower. Keep the completed lending action distinct from passing the bicycle on entirely.
Conditional permission and broader yielding
明日までなら、この傘を貸してもいいよ。 says that lending this umbrella is acceptable if it is until tomorrow. 明日までなら is a condition on permission, not a report of completed lending.
混んだ電車で高齢者に席を譲る。 describes giving up a seat to an older passenger on a crowded train. Preserve this broader yielding sense when comparing transfer of goods with lending.
What distinguishes 譲った for the watch to the grandchild from 貸した for the bicycle to a friend?
Show the answer and why
Passing an item on versus lending it to be returned. Payment or completed return requires separate information.