The Firing Line Forums - View Single Post - What happens if the class 3 dealer goes out of business

Machineguntony · June 23, 2013, 01:38 AM

I'm afraid I have to agree with you, James K. I must had a long discussion with my friend the lawyer. He says he's done some more research into the matter, and he says that according to how NFA transfers work, I do NOT actually own the guns yet, even though I have paid for them. I have what is the equivalent of a contract for the dealer to deliver the guns to me once BATFE issues the stamps. This technically means that if the dealer decides to go out of business, I am out of luck. Also if the dealer decides to just screw me and take off, I can't even file a police report because the dealer technically still owns the guns. My only remedy would be to sue in civil court, which would be worthless if the dealer went out of business.

Ahhhh...six more months of worrying.

June 23, 2013, 01:38 AM	#5
Machineguntony Senior Member Join Date: June 22, 2013 Posts: 1,277	I'm afraid I have to agree with you, James K. I must had a long discussion with my friend the lawyer. He says he's done some more research into the matter, and he says that according to how NFA transfers work, I do NOT actually own the guns yet, even though I have paid for them. I have what is the equivalent of a contract for the dealer to deliver the guns to me once BATFE issues the stamps. This technically means that if the dealer decides to go out of business, I am out of luck. Also if the dealer decides to just screw me and take off, I can't even file a police report because the dealer technically still owns the guns. My only remedy would be to sue in civil court, which would be worthless if the dealer went out of business. Ahhhh...six more months of worrying.