selling a machine gun out of state...

[jmemmert]

I am in the process of selling a gun to an out of state dealer. Currently is on a form 4 in my trust. Buyer sent me a check and a copy of his liscence. There is a 7 day hold on the money because his bank would not verify sufficient funds for my bank.

Can I go ahead and fill out my end of the form 4 and send back to him? I am assuming I can get the transfer started and if the check is bad I can cancel the transfer, is this correct? I guess I am open to advise on what everyone else would do. Thanks in advance.

 

[pipelinen]

Yes start the paperwork. If for any reason the check didn't clear you could cancel the transfer

 

[HK Guy]

I'm guessing you are going to have 6+ months for the check to clear. You should be good.

 

[Slow Hand]

If it were me, I'd fill out the form, and wait until the cash is mine before mailing it. Between two form 4's another week to be sure you aren't getting hosed won't make a big difference!