Recently, solution NMR-based approaches have been developed that represent useful new tools for the in situ characterization of the capping ligand in colloidal nanocrystal dispersions. So far, this development has focused mainly on tightly bound ligands (no exchange) or ligands in slow exchange with the nanocrystal surface. In such systems, the ligand can be identified and its amount and interaction quantified via 1D (1)H NMR, (1)H-(13)C HSQC, and DOSY spectra. Here, we explore the case where capping ligands are in fast exchange with the nanocrystal surface. Using dodecylamine-stabilized CdTe (Q-CdTe|DDA) and octylamine-stabilized ZnO (Q-ZnO|OctA) nanoparticles, we first show that the NMR methods developed so far fail to evidence the bound ligand when the effect of the latter on the exchange-averaged parameters is marginalized by an excess of free ligand. Next, transfer NOE spectroscopy, a well-established technique in biomolecular NMR, is introduced to demonstrate and characterize the interaction of a ligand with the nanocrystal surface. Using Q-PbSe nanocrystals capped with oleic acids as a reference system, we show that bound and free ligands have strongly different NOE spectra wherein only bound ligands develop strong and negative NOEs. For the Q-CdTe|DDA system, transfer NOE spectra show a similar rapid appearance of strong, negative NOEs, thereby unambiguously demonstrating that DDA molecules spend time at the nanocrystal surface. In the case of Q-ZnO|OctA, where a more complex mixture is analyzed, transfer NOE spectroscopy allows distinguishing capping from noncapping molecules, thereby demonstrating the screening potential offered by this technique for colloidal quantum dot dispersions.