Mike OTDP
Ultimate Member
- Feb 12, 2008
- 3,324
All the talk of NFA trusts got me thinking...could someone set up a trust out of state to own firearms there?
Create out-of-state trust to hold firearms?
- Thread starter Mike OTDP
- Start date
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IANAL, but yes. You can transfer firearms to a trust with an out of state address. Not sure what that gets you though as you would also need a trustee that was not a MD resident if you're looking to buy the goodies that are banned in MD.
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Interesting thought, although sadly not not hopeful but I am subscribing
- Feb 4, 2013
- 28,175
Not sure what that buys you, as you cannot bring banned firearms into MD, unless they are grandfathered.
Mike OTDP
Ultimate Member
- Feb 12, 2008
- 3,324
Maybe not, but you own them for use outside Maryland.
- Feb 4, 2013
- 28,175
Not sure how your trust would buy them, as the 4473 is done by a trustee.
So you would need a trustee that lived in that state. And they would have full access to the trust firearms, and could even sell them.
So if you have a friend you trust that much, have him buy them, and you go shoot them there.
There is more to this than appears are first glance.
So you would need a trustee that lived in that state. And they would have full access to the trust firearms, and could even sell them.
So if you have a friend you trust that much, have him buy them, and you go shoot them there.
There is more to this than appears are first glance.
I keep my best toy box in another state with a trusted friend. I refuse to trust the powers that be in this state. one more sandy hook and who knows what will happen here. maybe nothing but I don't keep all my eggs in one basket. that said I am subscribing to this thread.
rob-cubed
In need of moderation
This. Trusts are state-based, so you'd need someone residing in that state to be on the trust with you. The trust would have a non-MD address.
That person would have full access to and equal ownership of the items in the trust. So unless you have someone out of state you really trust (get it, trustee) it's a risky proposition.
Better to save your pennies and wait 'til you move to a true free state, then go on a buying spree. The trust doesn't guarantee that "your property" stays yours, nor will it let you take now-banned firearms back to MD.
so most of yall don't have folks out of state that you trust that much? I ask because I find that odd. I have about ten people I would trust my family or my life with and about half live here , and I am from here. I am not very trusting but I have found a few that value friendship more than things.
Z_Man
Ultimate Member
what if you and your siblings have a trust, you file it in your home state, however all of you move out of the original state, I happen to be the moron who lives in Maryland? how would that work for purchasing firearms through the trust?
BigSteve57
Ultimate Member
- Feb 14, 2011
- 3,245
Couldn't a trust be set up so that, short of going to court, unanimous consent of all trustees is required in order to dispose of its assets?
Or buy into it for that matter?
pilotguy299
Ultimate Member
I guess the idea is that you could have a trust for a machine gun in a state that didn't require registration, and just file a 5320.20 to bring the machine gun in to maryland and not have to go through the yearly MSP registration & fee.
Does an individual actually have to reside in a state to have a trust in one? I know a few people who have real estate in other than their state of residency held in a trust in the state the property is located in, not where they reside.
Interesting ...
Does an individual actually have to reside in a state to have a trust in one? I know a few people who have real estate in other than their state of residency held in a trust in the state the property is located in, not where they reside.
Interesting ...
See post #2. My trust is a VA trust but I'm a MD resident. The only reason I did this is because I'm moving.
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rob-cubed
In need of moderation
Not a lawyer, so I really don't know. What you are describing IMO sounds more like a corporation, where there are shareholders and a board of directors--any changes to the corporate structure or ownership of property could trigger a consensus via a vote. You can attach all kinds of stipulations to a trust, just like you could in a prenup, but whether they hold up to legal scrutiny in a specific state is another story. Trusts as far as I understand them are much more limited and primarily used to pass along shares of property, divided equally between trustees.
I have a buddy on my trust. I've known him for 25 years, I trust him implicitly. He lives in MD, unfortunately. In any case I don't see the utility in buying now-banned firearms via a trust to be held for you in another state. You can always buy them later with less of a paper trail once you move, unless you are worried about a complete ban happening before then.
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