Wtk: What Happens ?

[Hawkeye_Joe]

What happens if your Dealer loses his license while holding your guns for transfer? My dealer is having some licensing problems and I'm worried now. My transfers are all being held up and the one gun I have a deposit on I might lose both the gun and the deposit if he doesn't get this straightened out promptly. What happens if he doesn't get it fixed?? All my guns are in "HIS" name....... http://www.machinegunbooks.com/forums/invboard1_1_2/upload/html/emoticons/sad.gif

[harvester of sorrow]

I had a dealer whose SOT lapsed while he had one of my guns. As long as your gun is a transferable already in his possession, it shouldn't be a problem. If your state law allows it, he would just transfer the gun to you on a Form 4 like normal, although it would probably show him as an individual as the tranferor, not him as a FFL/SOT. Dealers are allowed to keep transferables and Pre-86 Dealer Samples that are in their possession when they give up their licenses, you shouldn't have any problems with that.

 

If your guns are still in transfer to him, that may create some difficulty for you. As a worst case scenario, I'd think you would just have to find a new dealer in your state and start the transfers over again to the new guy. Hope this helps!