I need advice from you guys who know better than I.
I have an Uncle-in-Law whose mother just passed away. He lives in a different state, and it turns out he has a transferable mg that he might sell to me if we come to terms.
His Mother's estate is a mess, and he is retired. He may relocate here for several months (6-9 months) while working throug the estate, selling her house, etc. He may even stay here, but will not know for sure for a few months until he figures out if the house will sell at the estate value.
Could he do a 5320.20 to lawfully bring the mg to my state while he is here, then we do a Form 4 individual to individual?
I'm not contemplating this to avoid a transfer tax (just an added benefit), but rather to simplify the transfer from him to me. This way, we would not need to use any SOTs... it would, if legal, transfer from one individual to another in the same state.
I assume he would need to fill out the 5320.20 as being a permanent move, even though he may eventually move back to his own state....??
Or, is this really (substance over form) transporting a mg across state lines to do a sale, which is forbidden?
Like I said, I have no problem paying both transfer taxes, and going through an in-state SOT... I just woke up in the middle of the night thinking about this possible option.
Thanks in advance for any advice.