Suppressors Question about "assignment of Property document"

[uracowman]

I'm about to send in my third form 4, but I cannot remember this for some reason...

When sending out the paperwork, is it necessary to send out the "assignment of property" document? I know an updated schedule A is required, but what about the aforementioned document?

 

[0311@LAR]

Re: Question about "assignment of Property document"

Isn't schedule A, and assignment of property the same thing?

 

[uracowman]

Re: Question about "assignment of Property document"

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: 0311@lar</div><div class="ubbcode-body">Isn't schedule A, and assignment of property the same thing? </div></div>

I don't think so.

I guess I don't mind sending it in, but does the assignment of property document need to list all items under your trust?

 

[0311@LAR]

Re: Question about "assignment of Property document"

Hmmm...I don't know that one. My trust was set up as NFA specific, so I don't even have a Schedule A. Just a sheet at the end of the trust listing the firearms in the trust.

Probably wouldn't hurt to send it all in that way they don't kick it back.

 

[uracowman]

Re: Question about "assignment of Property document"

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: 0311@lar</div><div class="ubbcode-body">Hmmm...I don't know that one. My trust was set up as NFA specific, so I don't even have a Schedule A. Just a sheet at the end of the trust listing the firearms in the trust.

Probably wouldn't hurt to send it all in that way they don't kick it back. </div></div>

But the problem is, how do you update the assignment of property? In quicken willmaker, the assignment of property is set up the following way

<span style="font-weight: bold">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. (NFA ITEM DESCRIPTION)

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

(My Signature)
(My Name), Grantor and Trustee</span>



The reason why the above makes no sense is for a few reasons. First, I have more than 1 NFA item, so is this document asking me to list all NFA items I own? If I did that, I would be executing the transfer in more than one Place. Second, it seems redundant because of the schedule A listing everything in my trust.

 

[doc awesome]

Re: Question about "assignment of Property document"

You should have an assignment of property for each item in your trust. So in your case you have two. It just states you are assigning something to your trust, you still update your schedule A. I just send copies of everything associated to my trust to be safe

 

[uracowman]

Re: Question about "assignment of Property document"

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: doc awesome</div><div class="ubbcode-body">You should have an assignment of property for each item in your trust. So in your case you have two. It just states you are assigning something to your trust, you still update your schedule A. I just send copies of everything associated to my trust to be safe </div></div>

so if I have 5 items for instance, I need to have 5 separate "assignment of property" documents?

And for the "Executed at (BLANK), (BLANK), on (BLANK), (BLANK)." portion, am I listing the day the form 4 cleared. So for instance, I had an osprey that was mailed directly to my house after my form 4 cleared. I would put:

executed at (my residence) on (the day I received it)?

 

[doc awesome]

Re: Question about "assignment of Property document"

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: uracowman</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: doc awesome</div><div class="ubbcode-body">You should have an assignment of property for each item in your trust. So in your case you have two. It just states you are assigning something to your trust, you still update your schedule A. I just send copies of everything associated to my trust to be safe </div></div>

so if I have 5 items for instance, I need to have 5 separate "assignment of property" documents?

And for the "Executed at (BLANK), (BLANK), on (BLANK), (BLANK)." portion, am I listing the day the form 4 cleared. So for instance, I had an osprey that was mailed directly to my house after my form 4 cleared. I would put:

executed at (my residence) on (the day I received it)? </div></div>

Correct.

You would complete the form on the day you receive the suppressor, which is not going to be the date the form 4 is approved. You would then update your schedule A.

I don't know how important the assignment of property is, I think it's just so you have record of when you transfers items to the trust. I'm sure it plays more into non-NFA trust type stuff since you are using a computer generated generic trust.

 

[Sendero_Man]

Re: Question about "assignment of Property document"

Should I Make a List of all Firearms and Submit it with my Trust to the ATF?

While there is no requirement to make a list of all of your firearms, it is a good idea to keep an inventory of the firearms in your trust for you and your successor(s) information. This list does not need to (and should not be) submitted to the ATF when you send in a Form 4 or Form 1.

You should only send in a copy of the one assignment sheet containing the item that pertains to that particular Form 4 or Form 1.

Assignment Page / Weapon Purchase

You should fill out an Assignment page for each purchase of a firearm restricted by the NFA. We recommend printing and using a new copy each time and only including the item(s) on the Form 4 or Form 1 you are sending in.

 

[uracowman]

Re: Question about "assignment of Property document"

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: doc awesome</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: uracowman</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: doc awesome</div><div class="ubbcode-body">You should have an assignment of property for each item in your trust. So in your case you have two. It just states you are assigning something to your trust, you still update your schedule A. I just send copies of everything associated to my trust to be safe </div></div>

so if I have 5 items for instance, I need to have 5 separate "assignment of property" documents?

And for the "Executed at (BLANK), (BLANK), on (BLANK), (BLANK)." portion, am I listing the day the form 4 cleared. So for instance, I had an osprey that was mailed directly to my house after my form 4 cleared. I would put:

executed at (my residence) on (the day I received it)? </div></div>

Correct.

You would complete the form on the day you receive the suppressor, which is not going to be the date the form 4 is approved. You would then update your schedule A.

I don't know how important the assignment of property is, I think it's just so you have record of when you transfers items to the trust. I'm sure it plays more into non-NFA trust type stuff since you are using a computer generated generic trust. </div></div>

So in essence, you are saying the assignment of property is a document for my personal files and isn't necessary when I send out new form 4s?

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Sendero_man</div><div class="ubbcode-body">Should I Make a List of all Firearms and Submit it with my Trust to the ATF?

While there is no requirement to make a list of all of your firearms, it is a good idea to keep an inventory of the firearms in your trust for you and your successor(s) information. This list does not need to (and should not be) submitted to the ATF when you send in a Form 4 or Form 1.

You should only send in a copy of the one assignment sheet containing the item that pertains to that particular Form 4 or Form 1.

Assignment Page / Weapon Purchase

You should fill out an Assignment page for each purchase of a firearm restricted by the NFA. We recommend printing and using a new copy each time and only including the item(s) on the Form 4 or Form 1 you are sending in.

</div></div>

but isn't this the purpose of a Schedule A? That almost sounds redundant.

If I am reading your last paragraph correctly, what you are saying is to create a new assignment sheet (so if I have 5 NFA items, make 5 different assignment of property documents), but only send in the one for the item I'm applying for?


To make this very easy, this is what I have currently:

-silencerco osprey
-elite iron .30 cal can

I'm about to send out the paperwork for a templar tactical ark 30. In the past, I sent out a assignment of property document, but it did not list anything because both the elite iron can was pending when I sent out my application for my osprey. Since then, both cans have cleared and I have updated my Schedule A to reflect this. What I'm confused about is the assignment of property because when my first can cleared (the elite iron can), my dealer gave me an assignment of property document stating the elite iron can was being transferred to me. When my osprey cleared, that dealer did not give me one.

 

[Sendero_Man]

Re: Question about "assignment of Property document"

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: uracowman</div><div class="ubbcode-body">I'm about to send in my third form 4, but I cannot remember this for some reason...

When sending out the paperwork, is it necessary to send out the "assignment of property" document? I know an updated schedule A is required, but what about the aforementioned document? </div></div>

Fill out a new assignment page for the item on the current form 4. don't include any prior items.

 

[doc awesome]

Re: Question about "assignment of Property document"

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Sendero_man</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: uracowman</div><div class="ubbcode-body">I'm about to send in my third form 4, but I cannot remember this for some reason...

When sending out the paperwork, is it necessary to send out the "assignment of property" document? I know an updated schedule A is required, but what about the aforementioned document? </div></div>

Fill out a new assignment page for the item on the current form 4. don't include any prior items. </div></div>

Don't do this. You have not assigned the suppressor to your trust so you should not have an assignment form for it. Same reason why you don't include it on the Schedule A until you actually receive it. Just send the two assignment pages for the osprey and elite iron can to be safe, as well as the schedule A with just those two on it. When you get the new can, create a new assignment page assigning the new can to your trust and update the schedule A.