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It's perfectly legal to do so.  I would also write up an agreement with him, indicating that this is not a transfer, indicating that he does not have the combination to the safe, and that you have the right to pickup the guns and safe from him with reasonable notice.  It doesn't have to be written by a lawyer, but just have something in writing, signed and dated by both of you.


I've stored guns for folks in this manner on a couple occasions.


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