Trust and how it works

Discussion in 'Class III / NFA' started by mgdan, Aug 31, 2008.

  1. mgdan

    mgdan New Member

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    May 24, 2008
    Okla and Bangkok Thailand
    All,
    For those who have used this method to aquire an Title III firearm, can you please explain.
    Once I have made the first transfer on a turst, Do I have to fill out all the trust docs again for the next tranfer/purchase or do you just add the firearm to the Trust. Please advise? How does it work.
    Thanks
    Mgdan
     


  2. The way I understand it all 28 pages of the trust are turned in with every transfer. You do not own them rather the trust owns them. Thats why there is no photo or fingerprints. Same deal as a corporation.
     
  3. ducksps

    ducksps Active Member

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    Mar 3, 2008
    Austin, Houston
    The trust becomes an entity which owns the firearms. The items will need to be added the schedule A of your trust as they are purchased.

    One trust can own many items but with each new purchase you will need to resubmit a copy of the original paperwork.
     
  4. Cyfer

    Cyfer Active Member

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    May 29, 2008
    TEXAS
    How would you go about adding additional informatoin to the trust after you add a new NFA item. I believe toward the end of the trust, it lists the items that is held by the trust. Can you just edit the document and have it renotorized?
     
  5. Joat

    Joat Active Member

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    Apr 28, 2008
    Kenefick, TX
    If I understand it correctly, The inventory sheet is an appendix to the trust documents and any new acquisitions are simply added, with no other requirements for notarization.

    Joat
     
  6. Madhouse

    Madhouse Active Member

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    Mar 17, 2008
    Houston, TX
    The items are listed on Scedule A and that's the only part of the trust you change, no need to have the trust re-notarized as the trust itself is not changed.
     

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