Undoubtedly, the issue of guns and gun laws in the United States of America has become a controversial and widely debated topic in the lead-up to the next election. So what exactly is an NFA Gun Trust? Golo Legal explores what it is and what it means to have one.
What does NFA stand for in NFA Gun Trust and what does it mean?
NFA stands for ‘National Firearm Act.’ The NFA regulates gun sales, use, possession, and transfer of machine guns, short-barreled shotguns and rifles, silencers, destructive devices, and AOWs. Individuals and groups such as trusts and business entities are legally able to purchase and own NFA firearms if this is allowed by state law.
What is an NFA Gun Trust and why would I need one?
The simplest and easiest way to explain an NFA Gun Trust is this; ownership of NFA firearms in many states of America is heavily regulated. An NFA Gun Trust is used to register firearms with the Bureau of Alcohol, Tobacco, Firearms, and Explosives and is a way to avoid some red tape surrounding acquiring firearms.
What you need to know about NFA Gun Trusts
- Protects against potential future regulatory restrictions
- Provides transition of ownership upon death
- No Chief Law Enforcement Officer approval
- Sharing among members of the trust
Golo Legal always recommends seeking the advice and help of a lawyer before moving forward with legalities.
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