Private transfers of NFA items question.

[deangelo1290@comcast.net]

I've seen on the boards here that you can do a private transfer of NFA items (I assume on a form 4).
My question is, while waiting for the approval by ATF, who would hold onto the NFA item?

[GunLawyer001]

I've seen on the boards here that you can do a private transfer of NFA items (I assume on a form 4).
My question is, while waiting for the approval by ATF, who would hold onto the NFA item?

The registered owner holds it, until the stamp comes in showing a change in the registrant.

[deangelo1290@comcast.net]

The registered owner holds it, until the stamp comes in showing a change in the registrant.

Thanks, good to know.
I know that if you use a dealer the dealer has to hold the item.

[GunLawyer001]

Thanks, good to know.
I know that if you use a dealer the dealer has to hold the item.

If you use a dealer in your own state, you first have to get approval from you to the dealer, and then from the dealer to the buyer.

[WCMG]

The other option is have a 3rd party, such as a FFL/SOT, hold the item until the Form 4 is returned. However, the item must stored securely, such as a small safe, that the 3rd party does not have the key too with a copy of the Form 4 accessible. We do this about once a year for customers and currently have one in our big safe waiting for the transfer to be completed. Once the transfer is completed, we hand the safe to the buyer and he gets the key from the seller.

[deangelo1290@comcast.net]

The other option is have a 3rd party, such as a FFL/SOT, hold the item until the Form 4 is returned. However, the item must stored securely, such as a small safe, that the 3rd party does not have the key too with a copy of the Form 4 accessible. We do this about once a year for customers and currently have one in our big safe waiting for the transfer to be completed. Once the transfer is completed, we hand the safe to the buyer and he gets the key from the seller.

Good to know.