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His reasoning is that I don't own the NFA items while I am waiting approval, but rather I have a contract with the dealer that he will transfer the guns/silencers once BATFE issues the stamp.
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You paid for these guns. You have a receipt for the thousands of dollars you paid for these guns. You own them, you simply can't posses them until your stamp comes in. When the stamp comes in the dealer must transfer them to you.