Got a new gun, feel kind of bad about it!?!

[jstwrit]

Nice of you to make that offer. Good will always win.

 

[george]

good move, just be sure to shoot while you got it!

 

[Bill of Rights]

One point here: Indiana law prohibits making loans secured by a handgun. Obviously, the OP referred to a shottie, which is not prohibited, but I would caution INGO members that to make a sale of a firearm outright and to offer to sell it back later might be misinterpreted in a courtroom. Make sure you have proper documentation of your sales and purchases or that your seller understands the offer completely: It's an offer to sell back, not an offer to redeem a loan of money.

IANAL, TINLA.

IC 35-47-4-2
Loans secured by handguns
Sec. 2. A person who makes a loan secured by a:
(1) mortgage;
(2) deposit; or
(3) pledge;
of a handgun commits a Class B misdemeanor.
As added by P.L.311-1983, SEC.32.

Blessings,
Bill

 

[theweakerbrother]

I've "held" a few guns over the year for people on hard times. I've never had anyone buy them back but I still hold them just in case.

 

[Chefcook]

KUDOS!!!

 

[Mgderf]

One point here: Indiana law prohibits making loans secured by a handgun. Obviously, the OP referred to a shottie, which is not prohibited, but I would caution INGO members that to make a sale of a firearm outright and to offer to sell it back later might be misinterpreted in a courtroom. Make sure you have proper documentation of your sales and purchases or that your seller understands the offer completely: It's an offer to sell back, not an offer to redeem a loan of money.

IANAL, TINLA.

IC 35-47-4-2
Loans secured by handguns
Sec. 2. A person who makes a loan secured by a:
(1) mortgage;
(2) deposit; or
(3) pledge;
of a handgun commits a Class B misdemeanor.
As added by P.L.311-1983, SEC.32.

Blessings,
Bill

Duly noted. Bill of sale was generated for both parties. Used a form found here on
Thanks everyone for the kudo's.

 

[hotfarmboy1]

It was me that sold him the 20 ga. I really liked that shotgun, but due to loss of job I decided it was one I could sadly sell to get some money. I only used it for deer hunting, but since I still have my muzzleloader and 357 I can get by if need be. I really appreciate the offer from him to let me buy it back later when I get back on my feet. Its people like him that make me appreciate the people on this site more and more every day. I thank him for his kindness and understanding. I just hope I can find a job soon so I don't have to sell more