I have received a Colt AR15A3 through a death in my family. It is marked "Restricted to Law Enforcement and Police." I am wondering if my having this rifle is in compliance with all ATF
rules and regulations.

Thanks in advance for your replies.

Nope, it's illegal for you to own.  You could keep the upper but you need to dump that lower.

Edited because I can't spel

Thank you.

OK, another question.  If one were to inadvertantly purchase one of these, and has it after the AWB sunsets (hopefully), would it then be legal?  Or would it still be LEO?  Just curious.

Doc

This opens a whole new can of worms and has been debated several times before.  As of right now my only suggestion would be DO NOT purchase one now...wait and see how the AWB plays out.  Better to be safe than sorry.

Edited to add:

jssjss341 - Don't panic.  My suggestion would be to remove the upper and set it aside for a future project.  You could even strip the lower and keep the parts too.  Then post it on the EE and sell it to an LEO and use the funds to buy a legitimate pre-ban lower.  Or sell it complete to an LEO.  You’re choice, just don’t hang onto it.

Thanks again. Your suggestions will be implemented.

Regards,

JSS