4 · Rights and Restrictions
Some Products, such as software and digital content, are licensed, not sold, to you pursuant to the limited license in Section 2 of the Agreement, and your license to use these Products will immediately terminate if you violate the Agreement (including any of these Terms).
These are the terms behind the eShop checkout, and this is their word for what you walk away with. The section above it does hand you something at checkout: "Risk of loss or damage for digital Products will transfer to you upon electronic transmission of the Product to you." So a transfer happens the instant the file moves. The risk arrives immediately. The title never does.