Calguns.net  

Home My iTrader Join the NRA Donate to CGSSA Sponsors CGN Google Search
CA Semiauto Ban(AW)ID Flowchart CA Handgun Ban ID Flowchart CA Shotgun Ban ID Flowchart
Go Back   Calguns.net > FIREARMS DISCUSSIONS > Centerfire Rifles - Semiautomatic or Gas Operated
Register FAQ Members List Calendar Mark Forums Read

Centerfire Rifles - Semiautomatic or Gas Operated Centerfire rifles, carbines and other gas operated rifles.

Reply
 
Thread Tools Display Modes
  #1  
Old 01-16-2013, 8:56 PM
Exdc's Avatar
Exdc Exdc is offline
Member
 
Join Date: Nov 2011
Location: Northern CA
Posts: 268
iTrader: 0 / 0%
Default LLC, FFL, Living Trust, and the potential of a new AWB.

So, I was thinking...

After reading (and listening to) some of Dianne Feinstein's not-so-novel ideas which would "keep America safer", I thought of a hypothetical solution...

One of the main problems with her new proposal, is that it will restrict transfer of firearms... which means that when I die, the gun which I built with my own hands, will go to Uncle Sam, rather than to my children.

Hypothetically speaking, what if a person were to start an LLC (possibly licensing that LLC as an FFL) or a living trust, and have that entity purchase some firearms...

Would it then be possible to sell the LLC/Trust to another person, in a similar way to when one company is bought out by another, or transfer that entity to a child or family member? Because the assets of the entity remained with the entity, and it was the that changed hands, would there be any issues which would prevent the original owner from transferring the ownership/controlling interest to another person?



I apologize if that is extremely convoluted or difficult to understand, but the ATF FAQ's, and the legal code is just a little bit beyond me.

Thanks for reading, and any light you may be able to shed on the subject.
__________________
RE: The AR-15/AK-47 controversy:
Quote:
Originally Posted by jvpark View Post
Guys. We live in Americia. Buy them both.
Radical Centerist (That's me) Philosophy:
Quote:
Originally Posted by Unknown
"I want gay married couples to be able to protect their marijuana plants with guns." -Unknown
Wisdom:
Quote:
Originally Posted by Jeff Quinn
"Of course you know, your main safety is between your ears; you don't pull that trigger until you want to hear a bang.

Last edited by Exdc; 01-16-2013 at 9:10 PM..
Reply With Quote
  #2  
Old 01-16-2013, 10:13 PM
zfields's Avatar
zfields zfields is offline
Vendor/Retailer
CGN Contributor
 
Join Date: Aug 2010
Location: Sonoma County
Posts: 13,164
iTrader: 33 / 100%
Default

If its a Feinstein bill, it will be individual registration, not trust. Similar to the CA AWB.
__________________
Sandstorm Custom Rifle Slings : Custom Paracord slings

10% off slings for calguns members. PM for details. Like us on facebook!
Reply With Quote
  #3  
Old 01-17-2013, 9:50 AM
troysland's Avatar
troysland troysland is offline
Senior Member
 
Join Date: Oct 2009
Location: Austin, TX
Posts: 2,206
iTrader: 91 / 100%
Default

Not sure if this applies but...
http://www.guntrust.com/
Reply With Quote
  #4  
Old 01-17-2013, 6:21 PM
Exdc's Avatar
Exdc Exdc is offline
Member
 
Join Date: Nov 2011
Location: Northern CA
Posts: 268
iTrader: 0 / 0%
Default

zFields, I'm not sure if I understand what you're saying... Are you saying that even if such a ban were passed, an LLC or a gun trust would still be able to purchase the firearms that an individual would be restricted from owning?

Thank you for the link troysland, it looks interesting. Do you know if California restricts these gun trusts any more than any other state? I would be surprised if it didn't...
__________________
RE: The AR-15/AK-47 controversy:
Quote:
Originally Posted by jvpark View Post
Guys. We live in Americia. Buy them both.
Radical Centerist (That's me) Philosophy:
Quote:
Originally Posted by Unknown
"I want gay married couples to be able to protect their marijuana plants with guns." -Unknown
Wisdom:
Quote:
Originally Posted by Jeff Quinn
"Of course you know, your main safety is between your ears; you don't pull that trigger until you want to hear a bang.
Reply With Quote
  #5  
Old 01-17-2013, 7:34 PM
zfields's Avatar
zfields zfields is offline
Vendor/Retailer
CGN Contributor
 
Join Date: Aug 2010
Location: Sonoma County
Posts: 13,164
iTrader: 33 / 100%
Default

Quote:
Originally Posted by Exdc View Post
zFields, I'm not sure if I understand what you're saying... Are you saying that even if such a ban were passed, an LLC or a gun trust would still be able to purchase the firearms that an individual would be restricted from owning?

Thank you for the link troysland, it looks interesting. Do you know if California restricts these gun trusts any more than any other state? I would be surprised if it didn't...
What I'm saying is that the registration that happened in CA allowed only individual registrations as far as I have heard, not trust/corporations.

Federal NFA registration is done differently.
__________________
Sandstorm Custom Rifle Slings : Custom Paracord slings

10% off slings for calguns members. PM for details. Like us on facebook!
Reply With Quote
  #6  
Old 01-17-2013, 8:14 PM
sigstroker sigstroker is offline
Veteran Member
 
Join Date: Jan 2009
Posts: 2,717
iTrader: 7 / 100%
Default

Can a trust DROS a gun now?
Reply With Quote
  #7  
Old 01-17-2013, 8:39 PM
joefrank64k's Avatar
joefrank64k joefrank64k is online now
@ the Dark End of the Bar
CGN Contributor - Lifetime
 
Join Date: Mar 2009
Location: Los Angeles County
Posts: 8,176
iTrader: 198 / 100%
Blog Entries: 1
Default

Quote:
Originally Posted by sigstroker View Post
Can a trust DROS a gun now?
My understanding (limited as it is! ) is that the DROS is still to an individual. I just stated the process for an 870 AOW through my trust, and when the tax stamp finally arrives, I'll have to DROS the AOW as a pistol to me as an individual. Bummer!!!
__________________
You will never, in your life, have a chance like this again.
If I were you, I would not pass this up. I would not let this go by...this is rare.
Come on...what harm??
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump



All times are GMT -8. The time now is 11:36 AM.




Powered by vBulletin® Version 3.8.9
Copyright ©2000 - 2016, vBulletin Solutions, Inc.
Proudly hosted by GeoVario the Premier 2A host.
Calguns.net, the 'Calguns' name and all associated variants and logos are ® Trademark and © Copyright 2002-2016, Calguns.net an Incorporated Company All Rights Reserved.