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NFA question-What happens when owner dies?

gunnut505
Simply hypothetical question here; what happens to NFA items after the registered owner dies? Can the Estate own them? Could the survivors sell to a NFA dealer, or do they revert to some alphabet agency? I'm curious as to the disposition of NFA stuff (suppressors, AOWs, Select-Fire rifles/pistols, destructive devices, etc.)when the original guy who went through the extensive anal probing in order to GET the stuff dies.
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Comments

7 comments

Date Votes
  • cbyerly
    There is a free transfer to a designated relative. They do not have to pay the $200 transfer tax.
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  • Nwcid
    It depends on how they are registered.

    If they are registered to an individual they, as stated, they will go to the next of kin with no transfer tax.

    It is held by a LLC or Trust (as all but one of mine are) they just stay in the LLC or Trust.

    Also with a LLC or Trust more then just one person can have legal possession of the item (s).
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  • nmyers
    An estate cannot "own" anything; it is a legal entity that exists solely for disposition of property. The executor or administrator of the estate is responsible for securing the NFA item. The item may be transferred to the person named in the will ONLY after such a transfer has been approved by ATF. If such a transfer cannot be approved, the executor must transfer it to a Class III dealer or surrender it to the ATF.

    Neal
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  • He Dog
    Thanks for thinking of your ol' cousin He Dog 505!
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  • givette
    Gunnut, if this is a CYA for the future, the Trust (revocable) is the best route. Let me explain:

    Upon your death, the trustee(s) have been, and remain in legal posession of the firearm (and any other property owned by the Trust) after the grantor dies. They are not heirs. All that is required is to re-assign grantor status.

    Remember: to ATF, the firearm didn't change ownership. One of the Trustees (or the grantor) dies, that's all. The Trust still owns it. Best, Joe

    EDIT:
    Below is an earlier GB posting whereby I responded to a similar question. However, the site I posted is under maintainance, and I don't know how to access the link, as I'm not computer savvy. Perhaps you can?

    The neat part about a revocable trust is that you don't have to get LEO signoff/fingerprints for your toys, and the wait period is much less. Good luck! Joe

    http://forums.gunbroker.com/topic.asp?TOPIC_ID=274831&SearchTerms=revocable,trust
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  • kidthatsirish
    our....just give all those things away to family members and friends before you die.
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  • Nwcid
    quote:Originally posted by kidthatsirish
    our....just give all those things away to family members and friends before you die.


    Other then the fact that it is a FEDERAL offense no big deal if you like federal jail for you and whoever takes possession of them.

    If you want to legally transfer them prior to death I believe you would still have to pay the transfer tax on each item.
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