Trust and how it works

[mgdan]

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

 

[baboon]

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.

 

[ducksps]

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.

 

[Cyfer]

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?

 

[Joat]

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

 

[Madhouse]

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.