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Feb 12th, 2024
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 Texas NFA (Class III) Gun Trust Question
#7287110
09/15/18 01:29 AM
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Joined: May 2008
Posts: 4,696
pug
OP
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OP
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Posts: 4,696 |
My brother has a gun trust that he set up 10-12 years ago in order to buy a couple of short barrel shotguns (Remi 870 14" Police Magnum). He has now determined that he no longer wants the 870's or the trust. Is there an easy, legal way to dissolve the trust and surrender the shotguns (they are not that expensive new, and by the time you pay the $200 stamp, they are worth maybe $150ea as used)?
And yes, I will suggest that he consult an attorney before doing anything...just wondering if a THF'er has dealt with this before?
"My grandfather told me that there are two kinds of people: those who work and those who take the credit. He also told me to try to be in the first group since there was much less competition."
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Re: Texas NFA (Class III) Gun Trust Question
[Re: pug]
#7287122
09/15/18 01:46 AM
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Joined: Mar 2012
Posts: 3,809
Cleric
Extreme Tracker
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You can sale the items on a form 4. Or you can notify the nfa through a form and destroy them to the point they can’t be rebuilt into what they were
An 870 sbs would most likely be worth more than 150...
Why does he want to get rid of them?
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Re: Texas NFA (Class III) Gun Trust Question
[Re: pug]
#7287129
09/15/18 01:52 AM
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Joined: May 2008
Posts: 4,696
pug
OP
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OP
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He simply doesn't want the liability. The two shotguns are unfired. I thought about buying a couple of 18.5" barrels, destroying the 14" barrels, but he gets paranoid at the thought.
"My grandfather told me that there are two kinds of people: those who work and those who take the credit. He also told me to try to be in the first group since there was much less competition."
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Re: Texas NFA (Class III) Gun Trust Question
[Re: pug]
#7287132
09/15/18 01:53 AM
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Joined: Mar 2012
Posts: 3,809
Cleric
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Extreme Tracker
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He simply doesn't want the liability. The two shotguns are unfired. I thought about buying a couple of 18.5" barrels, destroying the 14" barrels, but he gets paranoid at the thought. You will have to notify the atf that they are no longer sbs What liability does he perceive over a non sbs?
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Re: Texas NFA (Class III) Gun Trust Question
[Re: pug]
#7287145
09/15/18 02:09 AM
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Joined: Feb 2013
Posts: 4,697
krmitchell
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Re: Texas NFA (Class III) Gun Trust Question
[Re: pug]
#7287154
09/15/18 02:20 AM
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Joined: Aug 2012
Posts: 15,587
TexFlip
THF Celebrity
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THF Celebrity
Joined: Aug 2012
Posts: 15,587 |
Add yourself to the trust and take them.
Just to make sure that it is done thoroughly, I go both ways.
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Re: Texas NFA (Class III) Gun Trust Question
[Re: pug]
#7287156
09/15/18 02:22 AM
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Joined: Aug 2012
Posts: 15,587
TexFlip
THF Celebrity
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THF Celebrity
Joined: Aug 2012
Posts: 15,587 |
They are going for $550 on GB.
Just to make sure that it is done thoroughly, I go both ways.
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Re: Texas NFA (Class III) Gun Trust Question
[Re: pug]
#7337175
11/04/18 02:27 PM
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Joined: May 2008
Posts: 4,696
pug
OP
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OP
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I failed to update th OP, but he made a trade with an Austin FFL and I’m now waiting for the NFA docs to go through to make the transfer. Thanks for the input.
"My grandfather told me that there are two kinds of people: those who work and those who take the credit. He also told me to try to be in the first group since there was much less competition."
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