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-   -   Some more general FFL Qs (http://www.firearmstalk.com/forums/f47/some-more-general-ffl-qs-15558/)

KAG 07-10-2009 12:28 AM

Some more general FFL Qs
 
I have recently applied for my 01 and 07.
I in no way, shape, or form am applying for this to improve my collect, now that that is straight. What should I be aware of when it comes to adding to my personal collection?
Also, if I want to eat next week my wife needs to know this. What happens to Class III/NFA weapons and any other 07 stuff if I die? Can I leave it to her in a will, or other family members?

Kind of worried to sleep now!!!:eek:

Thanks in advance quys.

Dgunsmith 07-10-2009 03:27 AM

ATF Online

The answers you seek should all be listed here.

PLEASE do not ask FFL advise on the internet...it will probably just cause you problems. The BATF makes the rules..go by their information.

Any questions regarding NFA firearms should be only asked of the NFA Branch AFTER you receive your SOT. Don't ask any local ATF office ANYTHING about NFA firearms...they just dont have the correct answers.

Good Luck !

c3shooter 07-10-2009 11:45 AM

+1 for what Dgun said. Go to the source for the RIGHT answers. For all you know, I am 12 yrs old, and Mom does not know I am on the computer!

Yes, there are rules for 01 Dealers that transfer a gun to their private collection FROM their stock, and having a not-for-sale private weapon on their licensed premises, and selling a personal weapon outside of your license.

Yes, there ARE provisions for inheritance. Again, discuss this with Firearms Branch.

However, I will offer some free legal advice (which is worth exactly what you paid for it) IF you are going into the business. You need to incorporate. Probably a LLC. This insulates your PERSONAL assets from the liabilities of the business, the business OWNS the stock, etc. Not an expensive process, and worth it.

KAG 07-10-2009 12:37 PM

Thanks Dgun. Thats the vibe I was getting but now I know better.
And thank you C3 I havnt even thought about creating an LLC or similar.

I really appreciate the help guys.


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