Object Spawning and Despawning?

Hey everyone can anyone tell me if object spawning and despawning will work for this objective.   I want to create an asset that works as a trigger another item and when you untouch it the item disappears?  So an example I create a book.... A player touches it and it opens a page large so that they can read it and when they untouched a book or after several seconds the page disappears?   

Is object spawning and despawning the way to do this or is this not possible?  

Thanks, VR_Adventures