Quote Originally Posted by 10mm-man View Post
Yep! to do it right- have to have the serial number on the 4473 to run the BGC.
Sure but the seller can hold on to the firearm while the FFL just observes the serial number, thereby NOT relinquishing ownership. I believe the latest BATFE bulletin (ATF Proc.2013-1) pretty well covers most of this crap.
This ATF Proc. 2013-1 bulletin covers "Recordkeeping and background check procedures for facilitation of private firearms transfers".