Although TiO2, ZrO2, and HfO2 nanocrystals are often synthesized in tri-n-octylphosphine oxide (TOPO), it is unclear whether TOPO also serves as ligand. Using liquid and solid state 1H and 31P nuclear magnetic resonance spectroscopy and X-ray fluorescence spectroscopy, we show that the nanocrystal surface is capped by several derivatives of TOPO. In the 31P NMR spectrum, di-n-octylphosphinate (δ = 57 ppm) and P,P′-(di-n-octyl) pyrophosphonate (δ = 20 ppm) are found coordinated to the nanocrystal. In addition, hydrogen chloride associates with the metal oxide nanocrystal surface and protonates TOPO. The resulting hydroxyl-tri-n-octylphosphonium, [HO-PR3]+, is tightly associated with the nanocrystal surface (δ(31P) = 73 ppm) due to electrostatic interactions and hydrogen bonding. To simplify the complex surface composition, we exchange the original surface species for carboxylate or phosphonate ligands. The protonation of TOPO is an unexpected example of lyophilic ion pairing between an acidic metal oxide nanocrystal and a weakly basic ligand molecule that is formed in nonpolar solution. Our results contrast with the classically envisaged L-type binding motif of TOPO to surface metal ions. The generality of this stabilization mode and its relevance to catalysis is discussed.