Transferring a suppressor

[ShooterG]

Probably one of the main reasons for 41F.

41F didn’t fix that - no rule says you have to notify anyone when adding trustees.

 

[Lazarus]

41F didn’t fix that - no rule says you have to notify anyone when adding trustees.

I didnt say 41F fixed anything but 41F was an attempt to close the loophole of having 1 person go through the background process and having multiple responsible parties on the trust with access to the NFA items. If you attempt to sell a trust, which you technically CANNOT since only assets are transferable, not the trust entity itself, thats basically what you'd be doing, circumventing the very thing 41F was put in place to prevent.

 

[Deleted member 79987]

I didnt say 41F fixed anything but 41F was an attempt to close the loophole of having 1 person go through the background process and having multiple responsible parties on the trust with access to the NFA items. If you attempt to sell a trust, which you technically CANNOT since only assets are transferable, not the trust entity itself, thats basically what you'd be doing, circumventing the very thing 41F was put in place to prevent.

Well said.

 

[ShooterG]

I didnt say 41F fixed anything but 41F was an attempt to close the loophole of having 1 person go through the background process and having multiple responsible parties on the trust with access to the NFA items. If you attempt to sell a trust, which you technically CANNOT since only assets are transferable, not the trust entity itself, thats basically what you'd be doing, circumventing the very thing 41F was put in place to prevent.

Agreed! I was unclear in that I was recommending adding the buyer as a trustee in the interim while waiting for the transfer paperwork to go through.
Loopholes are one of my favorite holes to use.

 

[rOmiLaYu]

Agreed! I was unclear in that I was recommending adding the buyer as a trustee in the interim while waiting for the transfer paperwork to go through.
Loopholes are one of my favorite holes to use.

Please stop giving the enemy ammunition.

 

[Dirty J]

Some dealers will hold the item and the money and help get the paperwork sent in for the transfer. Upon approval, they will give them the item and you the money and everybody is secured as much as one can be.

I'm not sure they can do that.

Two licensees have to use a form 3 to transfer.

Can an individual just hand it over to an FFL?

Dunno. Doesn't seem like it would be that easy though

 

[3rd Rail]

So if you add them to your trust for this one can, do they also have any claim to the rest of the items in the same trust?
Asking for a friend...

 

[opps]

Simple process. Buyer does his paperwork and you sign after collecting 100% of funds. Sign a detailed receipt showing item and serial number and price. Disclaimer about NFA item transfer and subject to bla bla bla if buyer wants. I always just used the form as a receipt - take a picture.
Once the paperwork comes back to you - you must turn item over to buyer since it now legally is owned by buyer.
Sold a M11 that way 5 years ago.

 

[HfdSARG]

So if you add them to your trust for this one can, do they also have any claim to the rest of the items in the same trust?
Asking for a friend...

Yes

 

[HydroAuto]

Some dealers will hold the item and the money and help get the paperwork sent in for the transfer. Upon approval, they will give them the item and you the money and everybody is secured as much as one can be.

I can't see how the ATF wouldn't consider that an undocumented transfer of an NFA-regulated device.

It has been my understanding all along that the the NFA device must be controlled by the tranferee aka the person who has their name on the Form 4, and "control" being interpreted as sole possession and/or immediate supervision of use of the device by another. I believe that is why trusts were initially nice, so your family members (assuming they were trustees) could use your NFA device while you weren't present, without fear of being accused of an unauthorized transfer. Having a dealer sit on your NFA device while it is transferred from you to your buyer would be a high risk activity.