Duly noted. Bill of sale was generated for both parties. Used a form found here onOne 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