Armory Sponsor
Posted: 12/24/2013 1:50:20 PM EDT
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I have a close friend that passed away last week. He held an FFL license and had dozens of guns both personal and in his bound book. I may have an opportunity to purchase everything from his collection. I once held an FFL license so I know how to handle small transactions and will help in closing his FFL however how would I handle this if I buy close to 100 guns in one purchase? I know that the ones in his personal collection would just change hands but what about all the ones in his book? Would I do a 4473 on me for all long arms and one for all pistols and fill out a multiple gun purchase form for the pistols? I was thinking I would attach a list of guns to the 4473's. I am not buying these for re-sale to clear that question before it is asked. I am buying it all for my personal collection. I may have to sell some down the line at some point but I am not buying for that purpose.
Any help or advice would be appreciated. |
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Quoted:
I have a close friend that passed away last week. He held an FFL license and had dozens of guns both personal and in his bound book. I may have an opportunity to purchase everything from his collection. I once held an FFL license so I know how to handle small transactions and will help in closing his FFL however how would I handle this if I buy close to 100 guns in one purchase? I know that the ones in his personal collection would just change hands but what about all the ones in his book? Would I do a 4473 on me for all long arms and one for all pistols and fill out a multiple gun purchase form for the pistols? I was thinking I would attach a list of guns to the 4473's. I am not buying these for re-sale to clear that question before it is asked. I am buying it all for my personal collection. I may have to sell some down the line at some point but I am not buying for that purpose. Any help or advice would be appreciated. Sorry to hear about your friend. First, you aren't a dealer.........so you cannot do a 4473 on the purchase of his guns. 4473's, NICS and multiple sale forms are done by dealers only. The disposition of his personal firearms may be different than the disposition of his business guns. The guns that were his "personal collection" become the property of his beneficiaries after his will is probated. No federal law restricts how many guns you can buy at one time. As the purchase would be from a nonlicensee, no 4473, NICS or multiple sale forms required. The disposition of his "business" guns depends on how his business was structured....if he was a sole proprietor they become the property of his beneficiaries and IMHO no 4473, NICS or multiple sale forms required because the heirs are not licensees. However...........if his business was structured as a partnership, corporation, LLC, then the business owns the guns. Whoever has legal control of the business directs the disposition of those guns. If control of the corporation, partnership, etc was left to his heirs then ATF needs to be notified of his death. ATF will require a new "responsible person" be added to that FFL. Any disposition of the firearms from a corporation, LLC, etc WOULD require the buyer to complete a 4473, NICS and multiple sale forms. If you are the only buyer, only one 4473 needs to be done. After you use the five spaces provided on page 3 of the 4473 you simply attach additional sheets of paper that have the same information (manufacturer, model, serial#, type, caliber) |
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