REPRO:

• Rez a cube. Give it a unique name like "Trash test".
• Take the cube.
• Go to a no-build parcel of land.
• Delete the object in your inventory so it shows in the Trash "folder".
• Try to rez "Trash test".

• Observe: "You cannot create objects here. The owner of this land does not allow it. Use the land tool to see land ownership." error message, and "Trash test" is gone.
  = Expected: Object should be returned to Objects folder if it can't be rezzed safely.

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Attempting to rez an item from the trash will cause it to be lost forever if for some reason the rez fails, such as "unable to place item here because of some arbitrary reason that isn't documented anywhere".

Well, the exact message isn't that, but you know the one I'm talking about. Anyway if the rez fails, the item is gone forever, even if it was full perms.