Trust / Assignment of Property question

General Firearms NFA
1

I am just finishing up the paperwork on my trust to send off my Form 1 to manufacture an SBR. However I have hit one little snag on the Assignment of Property section of the trust paperwork. I’m using Quicken WillMaker Plus 2008 to create my trust, and the A of P looks something like this

I (My Name) as grantor of the (My Name) Revocable Living Trust dated (Date Trust Signed) hereby assign and transfer all of my rights, title, and interest in the following property:

  1. Tactical Inovations rifle, model T15BDX, serial number XXXXXXXX to (My Name), as trustee of the (My Name) Revocable Living Trust dated (Date Trust Signed).

Executed at (BLANK), (BLANK), on (BLANK), (BLANK).:confused:

(My Signature)
(My Name), Grantor and Trustee

My question is what the heck goes in the “Executed at BLANK, BLANK on BLANK, BLANK” spots?:confused: I have everything else squared away but this. Any input from those who have gone the trust route, esp. using Quicken WM, would be appreciated. Thanks!

2

I do not have my paperwork with me, however I believe that it refers to the location, day date and then year.

123 Mulberry Lane, Anywhere USA, 10 JAN 2009

3

Iraqgunz,

Thanks for the info. Much appreciated.:slight_smile:

4

I would assume it is the same as a marriage license and is indeed location and date. Should not have to be anything more than city for the location in that case but if there is room for more…

The nice thing about this board is all the great folks who have real world experience and are very willing to assist those of us who’s experience lies elsewhere.

Buckaroo

5

It does mean location and date. Whoever you get to notarize it should be able to help you out.

6

Is this item being transferred directly from the dealer to the trust? If so, why do you need to “assign” the property from you (as grantor) to the trust when it was never yours to begin with?

7

dbrowne1,

No this item is a receiver I already own and am transferring it to the trust for the purpose of building into an SBR on a Form 1. That is why it had to be assigned to the trust, otherwise in my limited understanding, the trust could not file a Form 1 to create an SBR from a receiver it did not already possess. Thanks for your concern though.

Also thanks to everyone else who replied.:slight_smile:

8

Reviving an old thread here. I’m trying to add an item to my existing trust. I know I add the item to my Schedule A once the paperwork is approved, but what do I need to revise in the trust? I’ve also moved. Does that affect anything?

9

I don’t have my paperwork with me, but I don’t recall the address being listed on the trust. If not, I wouldn’t be concerned, but I think there is a requirement to notify the BATFE is there not? Or is that when you move out of state only?

As far as I know you can use the original trust and all you need to do is add item to the Schedule A and send in whatever form you are using 1 or 4.

10

Thanks for the info. This is what I thought since I believe they just want to see evidence of a formed trust. But the “Assignment of Property” area is signed and dated… with my one, single NFA item currently listed. If I added a new item to the “Assignment of Property,” it would seem like I would resign/redate; on the other hand, that doesn’t seem to make sense either. Hence the confusion. Also, since I moved, said location has changed. Now what? It is indeed in-state though.

11

Using my Search-Fu I wound this. Since you have the program it may just be easier to re-do it and then get it notarized and submitted. In my absolutely non-legal opinion I think you could use your current trust and just update the Schedule A and if necessary the Assignement of Property.

[b]Registrants are not required to obtain permission from ATF to move NFA firearms within their State of residence. However, if a registrant’s address changes after the NFA firearms are registered with ATF, please notify the NFA Branch in writing of the change so the NFRTR can reflect the registrant’s correct address.
http://www.atf.gov/pub/nfab/index.htm[/b]

12

Thanks again for the reply. Hmm. The only problem I see with that is, I think I would need to officially revoke my “old” trust.

But I think after some research, if I want to purchase additional NFA items, it appears as though all I need to do is the following:

Pay for item.
Fill out proper ATF form/submit current trust documents.
Wait for approval/receive approval.
Update current trust document - meaning, add new item to Schedule A, and create an additional, new Assignment of Property for the new item (with the new date and new location on there too)

13

My guess is that if you use the exact same trust name it wouldn’t be an issue. However, what you posted below sounds right. I know that when I do my trust stuff the item(s) were added to the trust when I sent it off and it hasn’t been an issue.