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by 03Lightningrocks
Thu May 03, 2012 7:27 pm
Forum: General Gun, Shooting & Equipment Discussion
Topic: Anyone use Sean Cody for a Trust?
Replies: 43
Views: 11727

Re: Anyone use Sean Cody for a Trust?

Good info for those of us that are considering the full auto or sbr acquisition. Thanks everyone... :tiphat:
by 03Lightningrocks
Thu May 03, 2012 4:41 pm
Forum: General Gun, Shooting & Equipment Discussion
Topic: Anyone use Sean Cody for a Trust?
Replies: 43
Views: 11727

Re: Anyone use Sean Cody for a Trust?

iom wrote:A quote from here under the faq: http://www.atf.gov/firearms/faq/nationa ... earms.html" onclick="window.open(this.href);return false;

Q: What can happen to someone who has an NFA firearm which is not registered to him?
Violators may be fined not more than $250,000, and imprisoned not more than 10 years, or both. In addition, any vessel, vehicle or aircraft used to transport, conceal or possess an unregistered NFA firearm is subject to seizure and forfeiture, as is the weapon itself.

[49 U.S.C. 781-788, 26 U.S.C. 5861 and 5872]

Unless someone can verify that the above is not the case, that's what I'm going by. Prosecuted or not.
I am wondering how that law would play into a situation where the firearm is registered to a person who dies? Somehow it seems odd that the heirs would become instant felons. That would be a pretty serious risk for anyone to take. One never knows when their ticket is going to get punched. Thanks for the info. I have no immediate plans to aquire full auto but I do plan to get one at some point and would hate to put my family in a situation where my death results in them becoming instant felons.
by 03Lightningrocks
Thu May 03, 2012 3:49 pm
Forum: General Gun, Shooting & Equipment Discussion
Topic: Anyone use Sean Cody for a Trust?
Replies: 43
Views: 11727

Re: Anyone use Sean Cody for a Trust?

iom wrote:
ddurkof wrote:A trust is an legal entity, like a corporation, that allows you to NOT have to get a "Chief Law Enforcement Officer" sign off on the Form 1 or Form 4s. The trust is what is purchasing or manufacturing the weapon. The machine gun has to be transferable, so manufactured prior to 1986, and you can buy it.

They are not cheap and eat a great deal of ammo.

Have fun.
Sean Cody also set my trust up a couple of years ago for two AK sbrs.

Another benefit not mentioned above is that if something unforseen happens to you, you are not in turn putting your significant other in violation of federal law by possessing class 3 weapons not in their names. The potential violations are not pretty.
I have little to no knowledge concerning class 3 weapons laws but did not realize if I owned one and died, my heirs would be in violation of federal laws. Has anyone been prosecuted for this?
by 03Lightningrocks
Sat Apr 30, 2011 11:16 am
Forum: General Gun, Shooting & Equipment Discussion
Topic: Anyone use Sean Cody for a Trust?
Replies: 43
Views: 11727

Re: Anyone use Sean Cody for a Trust?

I can buy a full auto weapon if I set up this trust? How does it all work? Do I simply buy the weapon through the trust and pay for the tax stamp? No other catches?

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