TexasCHLforum.com

Baytown wrote:There is really not that much paperwork that goes with it if you ever wanted to do it. If for nothing else, it is just fun to have some NFA stuff. (No, the feds can't come search your house without a warrant, etc...) I have often thought about the law in the same way with a machine gun instead of an AOW though. Glock 18 with a forgrip? PAWS Sterling? MP5k?

I encourage people to get a machinegun as NFA item too. They are really fun. You won't be able to obtain a Glock 18 (full auto Glock 17) though because they were all manufactured after 1986. No full-auto that was not registered before May 19, 1986 may be transferred to an individual, only government agencies.

ScottDLS wrote:I encourage people to get a machinegun as NFA item too. They are really fun. You won't be able to obtain a Glock 18 (full auto Glock 17) though because they were all manufactured after 1986. No full-auto that was not registered before May 19, 1986 may be transferred to an individual, only government agencies.

Imagine the ACLU hysterics if there was a $200 transfer tax (and fingerprints and police chief signature) to buy a Koran.

Now imagine if, even after jumping through the hoops, you couldn't buy a Koran printed after May 19, 1986.

Tamie wrote:

ScottDLS wrote:I encourage people to get a machinegun as NFA item too. They are really fun. You won't be able to obtain a Glock 18 (full auto Glock 17) though because they were all manufactured after 1986. No full-auto that was not registered before May 19, 1986 may be transferred to an individual, only government agencies.

Imagine the ACLU hysterics if there was a $200 transfer tax (and fingerprints and police chief signature) to buy a Koran.

Now imagine if, even after jumping through the hoops, you couldn't buy a Koran printed after May 19, 1986.

OUCH; pretty good analogy regarding 1st+2nd amendments

That is a good question.

When I transfer NFA weapons to a corp, llc, trust, etc, I still have the person picking the gun up fill out a 4473 and just check the NFA section at the bottom.

Scott, that is not entirely correct. Class 2's and 3's can own them as well, as long as they have a demo letter.

Baytown wrote:Scott, that is not entirely correct. Class 2's and 3's can own them as well, as long as they have a demo letter.

In that situation they're being transferred to the business, not to an individual.

PappaGun wrote: but I am wondering out loud if there is any advantage to purchasing every day firearms through a trust or corporation.

Intresting Thought . . . can anyone help with pros/cons to this approach ?

Randy797 wrote:

PappaGun wrote: but I am wondering out loud if there is any advantage to purchasing every day firearms through a trust or corporation.

Intresting Thought . . . can anyone help with pros/cons to this approach ?

Unless you're concerned about being sued and want to shelter the assets, or the firearms are worth enough to trigger the estate tax when you die, I don't know any advantage to having a trust own non-NFA firearms, but IANAL.

If you run a shooting range or some other gun business, there may be liability or other advantages to the corporation owning the firearms, and for example customers rent the company's firearms to shoot at the range.

juggernaut wrote:

Baytown wrote:Scott, that is not entirely correct. Class 2's and 3's can own them as well, as long as they have a demo letter.

In that situation they're being transferred to the business, not to an individual.

I still don't get how those items are given to heirs, and if it's easier from a trust, which wants my brother to maintain them in good working condition after I can't any more, (unless he, as trustee, sells for his daughter's college fund (beneficiary) etc etc and said trust self-terminates with no corpus) than an individual who already passed away.
Especially if one intends to avoid probate, if that matters..
I'd heard it was easier through a trust.


I mean otherwise, brother can't just take and possess deceased person's federal NFA/AOW items until paperwork is done, meanwhile they are in Limbo? Who keeps them?

Anyone know?

A trust should name a successor trustee, regardless of whether the trust owns firearms or family land or anything else.

A corporation would offer similar unbroken ownership, even if officers, employees, and shareholders change. For example, Coca-Cola maintains ownership of its IP and fixed assets through stock sales, new management, etc.

An heir would typically fill out a Form 5 but you raise a good question about possession during the waiting period.

Disclaimers: I'm not your lawyer; this is not legal advice; the Emperor isn't wearing any clothes.