So... Let's suppose that a ban is enacted...

[Moose242]

Can it own Thai hookers?

That is actually why I had my trust drafted in the first place. I found out about the NFA stuff afterwards.

[CJ]

People just call them "NFA Trusts" out of convenience and to explain their purpose for forming said entity. They are no different than any other trust (the National Firearms Act of 1934 declares a transferee can be an individual, corporation, or trust).

A trust can own anything you want it to. Cars, houses, staplers, pencils, etc.

Can it own Thai hookers?

[Moose242]

People just call them "NFA Trusts" out of convenience and to explain their purpose for forming said entity. They are no different than any other trust (the National Firearms Act of 1934 declares a transferee can be an individual, corporation, or trust).

A trust can own anything you want it to. Cars, houses, staplers, pencils, etc.

[bigmuskie]

OK, thanks for the explanation. There's way too much uncertainty and speculation going on with our gun rights that us newbs, such as myself, with firearms (and NFA) are going to follow in the footsteps of those who are more knowledgeable. So if you take your AR's and jump off a cliff, you will cushion my landing.

[CJ]

I thought NFA trust were for NFA items only and that one couldn't transfer a non NFA firearm into it. Interesting. The Form 10 is what you would use to transfer into your Trust?

No, a trust can possess anything, firearms included. The form 10 is for museums mostly, once you die the weapons are destroyed. I was joking about how the government would take care of their little "problem." They could put everyone's gun on a form10, then after 1 generation all the guns are destroyed.

[bigmuskie]

I thought NFA trust were for NFA items only and that one couldn't transfer a non NFA firearm into it. Interesting. The Form 10 is what you would use to transfer into your Trust?

[KBScobravert]

Form 10's for everyone!

Trusts for everyone.

[CJ]

Form 10's for everyone!

[Moose242]

I am also concerned that I would not be able to buy guns that were legally owned before the ban. I have a dream of owning every 5.56/.223 semi automatic rifle ever brought into the USA.

[bucky]

I see an AR in my future also. I have been kicking the idea around for a few years.
The ammo scenarios are spot on. That is exactly what they will start doing. It will of course only penalize us recreational shooters and hunters with absolutely zero effect on violent crime.

[Lason]

I've been playing with the idea of an AR for some time, so it may be time to buy\assemble one within the very near future.

Yeah me too but a quick scan shows everyone out of stripped lowers. I just want to get half a dozen or so stripped lowers (one for each member of my family) with a dated reciept in case something does happen. Im sure the reciept wont matter though, I seem to remember an issue with the '94 ban regarding "pre-ban" rifles had to be assembled before the ban and with stripped lowers there was no deffinitive way of telling so it was a grey area.

[KBScobravert]

I am going to transfer every single firearm I own into my NFA trust. That way each firearm is jointly owned by whomever is part of the entity.

Exactly. And the trust is a living document able to have Trustees added and removed.

[CJ]

I am going to transfer every single firearm I own into my NFA trust. That way each firearm is jointly owned by whomever is part of the entity.

That's exactly what I had been saying before, that's the plan.

[Moose242]

Heh, you two are going to be majorly affected by this. So do you start selling them off now, or hope you don't get caught with so much capital being effectively eliminated?

I am going to transfer every single firearm I own into my NFA trust. That way each firearm is jointly owned by whomever is part of the entity.

[CJ]

Heh, you two are going to be majorly affected by this. So do you start selling them off now, or hope you don't get caught with so much capital being effectively eliminated?

I'm not so much concerned about the selling part as I am the passing down part. I rarely sell guns, I just don't want heirlooms and other pieces of history to be effectively eliminated. The NRA-ILA better be ready for a battle, empty the damn coffers if they have to but protect our gun rights.