Ok, a couple of changes.

1. You can use it if it is in your inventory now.

2. If you give it to someone, lose it, or anything like that, then the
lifevision defense will fade within 60 seconds or so. As long as you are
wearing it, or you have it in your inventory, you are good.

Penned by my hand on the 23rd of Severin, in the year 218 MA.