Depends on where you live.
I ve bought all of Juggernaut's handguns. In Tennessee he is allowed to have then in his possesion, and to shoot them, etc., he just can't purchase them. Legally, they are mine until he's 21, but physically, he can have control over them after they are purchased.
Further, on the subject of "transferring".
Say for instance a person buys a handgun from a dealer, he goes through the background check and transfer process.
Now he loses his job and needs cash. So he goes to a gun show, or runs and ad in the paper, or talks to a co-worker.. and sells the handgun to a buyer. The new buyer is the owner without transfer or registration.
If the handgun is used in a crime, the seller knows nothing except that he sold it to a guy at a gun show. There is no legal requirement that he record his sale nor can he be held accountable for the sale, or subsequent sales, and the final disposition of the gun.
So, (in Tennessee) if a relative buys a handgun and then sells it to a buyer (you), then the transfer trail ends there and the original owner isn't required to have "transfer" documentation.