Suppressors What happens if dealer closes?

[Downtown]

I'm sure this has happened to somebody here. What happens if four months into waiting, after the local dealer has possession, his business goes bankrupt? The item would still be on the Form 3, I believe.

 

[craigos]

wondered this myself as i use folks who do this out of their houses ... so interested as well

 

[Whiskey 2-1]

The SOT will generally transfer them to another dealer. It happened to a shop here. My buddy took possession of all NFA items under his SOT and transferred them as the 4s came in. If it was simple bankruptcy that doesn't mean the holder of the SOT gave up his FFL/SOT. They could retain possession of the items and transfer as usual.

 

[HansohnBrothers]

Depends on the dealer. They can still transfer the can to you with an approved form 4, FFL or not.

 

[Juggerxxx]

What happens when the shop you bought it from loses their licenses to sell?

 

[CoryT]

People really need to get off this thinking something is "on" a form x. Items transfer using a particular form, they are not "on" any form. That said, unless the dealer was arrested for some crime, the transfer can still be completed since he still has it. If the FFL expires, NFA inventory that is not a post dealer sample simply moves to personal possession if the dealer is a sole proprietor, it can be more complicated if it's a corporation. If his FFL is still active the transfer simply goes on as usual, ATF does not care about the bankruptcy proceeding. You'll need to make contact somehow to figure out what the status is. A storefront closing has no effect on the transfer process.

Bankruptcy comes in multiple flavors, and assets may be sold to pay creditors, but if you can prove you paid for the item then it's not his asset to sell. Now, if he never filed the transfer and you have no receipt, you have a whole different problem.

 

[macman2564]

Bankruptcy comes in multiple flavors, and assets may be sold to pay creditors, but if you can prove you paid for the item then it's not his asset to sell. Now, if he never filed the transfer and you have no receipt, you have a whole different problem.

This happened to me a couple of years ago. I bought a few through a hide dealer... No receipt. Tried to make contact for months and months with no response. Luckily American Express gave me the 3k I had spent back for undelivered goods..

 

[Renegade]

I'm sure this has happened to somebody here. What happens if four months into waiting, after the local dealer has possession, his business goes bankrupt? The item would still be on the Form 3, I believe.

Since it is not part of his business inventory. you convince him to xfer it to you on form 4. No reason he cannot do this.

What happens when the shop you bought it from loses their licenses to sell?

you do not need an FFL or SOT to do a instate F4 xfer.

 

[D_Lamz]

I'm in kinda the same boat waiting on an approved form 4 with a closed shop.....

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