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Posted: 8/13/2009 3:17:17 PM EDT
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I have a Trust, question is if I have an AR purchased in my name years ago how do I transfer it to the trust so I can SBR it?
Thanks, D |
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You have to do an assignment of the property to the trust. You may or may not have to have your assignment of property notarized depending on state laws. So i just fill out the sheet, make model and serial, notarize (if required) and I'm done? D That's how I did it BEFORE I sent of my Form 1. Then after I got my Form 1 back I assigned the SBR to the trust. ETA: I DID NOT make a SBR before I sent in my Form 1. I meant I transferred my title 1 to the trust before I sent of the form 1. After getting the form 1 back approved I built the SBR. |
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You have to do an assignment of the property to the trust. You may or may not have to have your assignment of property notarized depending on state laws. So i just fill out the sheet, make model and serial, notarize (if required) and I'm done? D That's how I did it BEFORE I sent of my Form 1. Then after I got my Form 1 back I assigned the SBR to the trust. Please forgive my ignorance: "So i just fill out the sheet, make model and serial, notarize (if required) and I'm done?" (Does this mean the Trust owns it (assigned to trust) at this point?) "That's how I did it BEFORE I sent of my Form 1. Then after I got my Form 1 back I assigned the SBR to the trust." (if it is filled out before sent, (Does this mean the Trust owns it (assigned to trust) at this point?) "Then after I got my Form 1 back I assigned the SBR to the trust." weather the form 1 gets approved or not the trust owns it. Correct? Would filling out an assignment and then assigning it after approval be the method one would use when purchasing a silencer, factory SBR or a MG? Thanks, D |
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Would filling out an assignment and then assigning it after approval be the method one would use when purchasing a silencer, factory SBR or a MG? No. The NFA item must be registered to the trust. If you purchase a silencer, SBR or MG in your name, then you must submit a second Form 4 and pay a second $200 tax to transfer it from you to the trust. Because you and the trust are separate legal entities, under the law. A title 1 firearm can be assigned to the trust with no transfer issues, because title 1 firearms are not registered with the federal government. NFA items, OTOH, are registered, and legally, assignment to a trust is a transfer requiring ATF approval and payment of a $200 transfer tax per item. 
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That's how I did it BEFORE I sent of my Form 1. Then after I got my Form 1 back I assigned the SBR to the trust. Maybe I am misreading your post, but you CANNOT submit an application for the trust to make an SBR, receive an approval, SBR the gun while it is still your asset, and then AFTER SBRing it, transfer it to the trust. That is an illegal transfer of a NFA firearm. While the Form 1 is only approval for making, you could, ostensibly, wait until you get the approval and then transfer your title 1 gun to the trust, you CANNOT SBR the firearm prior to it being placed in the trust, unless you, personally, submit an application for a form 1 (paying the $200 tax), receive approval and make the SBR, and then file a Form 4 to transfer the SBR to the trust (again paying the $200 transfer). I hate to sound like a broken record but this is REALLY why everyone should have legal advice on formation and use of a trust. |
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That's how I did it BEFORE I sent of my Form 1. Then after I got my Form 1 back I assigned the SBR to the trust. Maybe I am misreading your post, but you CANNOT submit an application for the trust to make an SBR, receive an approval, SBR the gun while it is still your asset, and then AFTER SBRing it, transfer it to the trust. That is an illegal transfer of a NFA firearm. While the Form 1 is only approval for making, you could, ostensibly, wait until you get the approval and then transfer your title 1 gun to the trust, you CANNOT SBR the firearm prior to it being placed in the trust, unless you, personally, submit an application for a form 1 (paying the $200 tax), receive approval and make the SBR, and then file a Form 4 to transfer the SBR to the trust (again paying the $200 transfer). I hate to sound like a broken record but this is REALLY why everyone should have legal advice on formation and use of a trust. Maybe I didn't make it clear. If so. I apologize 
1. I transferred my 16" AR15 to the Trust. 2. I sent off my Form 1 in the name of my trust. 3. I got my Form 1 back approved. 4. I purchased a 10.5 barrel and swapped out my 16" barrel. 5. SBR is finished. |
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That's how I did it BEFORE I sent of my Form 1. Then after I got my Form 1 back I assigned the SBR to the trust. Maybe I am misreading your post, but you CANNOT submit an application for the trust to make an SBR, receive an approval, SBR the gun while it is still your asset, and then AFTER SBRing it, transfer it to the trust. That is an illegal transfer of a NFA firearm. While the Form 1 is only approval for making, you could, ostensibly, wait until you get the approval and then transfer your title 1 gun to the trust, you CANNOT SBR the firearm prior to it being placed in the trust, unless you, personally, submit an application for a form 1 (paying the $200 tax), receive approval and make the SBR, and then file a Form 4 to transfer the SBR to the trust (again paying the $200 transfer). I hate to sound like a broken record but this is REALLY why everyone should have legal advice on formation and use of a trust. Maybe I didn't make it clear. If so. I apologize
1. I transferred my 16" AR15 to the Trust. 2. I sent off my Form 1 in the name of my trust. 3. I got my Form 1 back approved. 4. I purchased a 10.5 barrel and swapped out my 16" barrel. 5. SBR is finished. Ok, this is what I was looking for, “1. I transferred my 16” AR15 to the Trust” At this step this is where I do this: “You have to do an assignment of the property to the trust. You may or may not have to have your assignment of property notarized depending on state laws.” Then steps 2-5? Thanks, D |
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yes.
"you" can't do shit - except give your AR to the legally separate entity that is your Trust. You then fill out the form 1 for Mr. Trust (because he's just a legal entity without arms, legs or junk) and mail it in for him too. The BATFE reviews the paperwork you filled out on behalf of Mr. Trust - when Mr. Trust comes back sqeaky clean, they'll approve the "manufacture of a firearm" for Mr. Trust, and mail it back to him with his over-priced stamp... while taking their sweet-ass time to do it. This would be a good time to have said SBR engraved for Mr. Trust, since, as a de facto quadriplegic he has a hard time doing things us real people do every day. Once Mr. Trust receives the stamp in the mail (proof of purchase, naturally), then he can go ahead and assemble his SBR. Since Mr. Trust has no arms, you will do this for him as an Officer of the Trust. You and Mr. Trust can go shooting together, have long talks about NFA law and fantasize about building yet ANOTHER SBR.... together. 
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Drafted and used by me to obtain a NFA item. I am not a lawyer, but then again I am not charging $650.
However, my membership does expire this month, so . . . hint, hint  
NOT a crappy WillMaker version, but handcrafted by me at great time and expense. I can answer any questions BY EMAIL ONLY Please keep in mind that you will have to tweak it for your own circumstances and again - I am more than happy to help you figure out what tweaks are needed. Maryland_Shooter's 100% Free Sample Trust Also, if there is a member who has a Trust drafted by a lawyer, I would really, really like to have a look at it. It can only improve my sample and thereby help each and every member who wants to use a Trust. Any information is always held in the strictest confidence. |
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