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How Do I Transfer From An Estate?


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#1 Byrdman4fl

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Posted 31 August 2004 - 08:28 PM

I need help in the possible transfer from an estate in N.M to Fla. I have a friend in New Mexico who was also friends with a man out there who was recently murdered. The man had several guns including a Thompson. As my friend is more into guitars than guns he is not sure if the gun is full or semi auto. He is getting me pictures and all of the info on what markings the gun has on it. If it turns out to be full auto and hopefully it is registered, will it need to go through probate before the family can sell it to me or can they transfer it to a dealer there when I have my approval from BATF? Any help and suggestions on what I need to do to get this taken care of properly will be most appreciated.

Thanks in advance for your help.

Ken
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#2 OldFalGuy

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Posted 31 August 2004 - 08:54 PM

After verifying the weapon is NFA registered then you might take the following steps-

THere is not enough information here for me to be very detailed but I will give it a whirl-Don't hold it against me-

If the owner has a will contact the Executor- this information will be available fromthe probate COurt of from individuals that knew the man.

Only the Executor can sign the form 4 to transfer it to anyone (form 5 to a family member/heir)
If thier is no heir or the heir doesn't care for the weapon and wants dinero instead then have him tell the executor (if he is not it) to transfer it to the local C3, when complete pay the Executor and he will settle the estate and give what's left over to the heirs.

If there is no will then the Probate Court will assign someone-No will means a very prtracted search for possible heirs- darn gun will go up in value a bunch before this is settled, perhaps a year or longer- A will really helps you a lot-$$$$$

I think your going to have a tough row to hoe if there is a will and several beneficiaries or worse a specific bequest of the Thompson to a particuliar person(best case here is they don't want it, only $$$ and you can make a good deal) - Then you can contact that person and make your offer and have a C3 locally help with the transfer to himself and then to you out of state- Pay the C3 for the gun and he pay the hier, Allow only the transfer paperwork from the heir to the C3 be done before any payment for the gun,do not pay for the gun till its in the C3's name-Yes this will involve an extra transfer tax but lets keep our eye on the ball here.

Best case is will with an Executor giving property of estate to one person who doesn't want the gun that you can necgoiate with and line this thing out with- otherwise your in for a long wait, perhaps a risky one.
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#3 Sig

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Posted 31 August 2004 - 08:54 PM

Byrdman4fl
The link goes to the correct form to transfer through the executor of the will. This assumes it is a legally registered and transferable full auto.
michael


Form 5
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#4 Tman

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Posted 01 September 2004 - 11:08 AM

OldFalGuy hit it on the head. I got my WH28 thru the executrix of an estate. Luckily it was an intrastate transfer so no C3 was involved. Once it hits probate court, be prepared for a protracted wait (even longer than the one ATF has). Get in touch with as many people involved in the person's estate. It might help you get the inside track on the gun. Good luck and let the board know what happens.

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#5 Merry Ploughboy

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Posted 01 September 2004 - 04:49 PM

Amen to what Tman said - Probate Courts are the slowest place known to mankind. They have the attitude "Hey, the guy's dead. What's the rush?"
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#6 Byrdman4fl

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Posted 02 September 2004 - 07:35 PM

Thanks guys for all of the good info. I will keep the board posted on my progress with the estate. For now I have to batten down the hatches for Frances seems to want to pay me a visit. There should be a law against more than one hurricane visit per year.

Thanks

Ken
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