Transfering personally owned regulated firearms into a trust.

[Kingjamez]

Do I need to go through the MSP to do this? I'm about to SBR an existing AR rifle. Do I have to go through the MSP in order to transfer the AR from myself to my trust? If so, who holds it for the 7 days? :-)

-Jim

 

[SWO Daddy]

Do I need to go through the MSP to do this? I'm about to SBR an existing AR rifle. Do I have to go through the MSP in order to transfer the AR from myself to my trust? If so, who holds it for the 7 days? :-)

-Jim

IANAL - but I'm pretty sure you need to buy another stamp and everything that entails.

 

[erwos]

IANAL - but I'm pretty sure you need to buy another stamp and everything that entails.

No, that's not true. If you had already registered the SBR as an individual and wanted to transfer to a trust, you'd need a second stamp, but that's it.

Basically, the MSP does not recognize trust ownership, so people using trusts are in kind of a weird state where the MSP thinks the individual owns them, but the feds think the trust does. It seems to be that as far as the MSP is concerned, you're transferring a gun from your right hand to your left hand.

The MSP doesn't particularly mind this state of affairs and there seems to be no real legal issue with it, so everyone just goes along with it.

 

[Darkemp]

The real question is how will trust ownership work when we add children to it?

 

[erwos]

The real question is how will trust ownership work when we add children to it?

Well, if you got your NFA trust written correctly, it should address that issue.

If you got something from Willmaker, probably not.

 

[teratos]

My trust addresses my kids. Had a lawyer do it

 

[Kingjamez]

No, that's not true. If you had already registered the SBR as an individual and wanted to transfer to a trust, you'd need a second stamp, but that's it.

Basically, the MSP does not recognize trust ownership, so people using trusts are in kind of a weird state where the MSP thinks the individual owns them, but the feds think the trust does. It seems to be that as far as the MSP is concerned, you're transferring a gun from your right hand to your left hand.

The MSP doesn't particularly mind this state of affairs and there seems to be no real legal issue with it, so everyone just goes along with it.

Great, thanks for the info!

-Jim

 

[SWO Daddy]

No, that's not true. If you had already registered the SBR as an individual and wanted to transfer to a trust, you'd need a second stamp, but that's it.

Basically, the MSP does not recognize trust ownership, so people using trusts are in kind of a weird state where the MSP thinks the individual owns them, but the feds think the trust does. It seems to be that as far as the MSP is concerned, you're transferring a gun from your right hand to your left hand.

The MSP doesn't particularly mind this state of affairs and there seems to be no real legal issue with it, so everyone just goes along with it.

You're right - I just read his post again and saw that he hadn't registered is as an SBR under his name.