If you just bought it and ask the police to check it and then it turns out to be stolen, in all likelihood you'd be in no trouble at all; you're just trying to verify the gun is clean. If it does turn out to be stolen, however, the police have to confiscate the gun, so you'd be out whatever you paid for it unless you filed a civil suit against the seller.
Strictly speaking, it's neither, but I know that's not what you meant. Owning or possessing a gun that is actually stolen CAN be a felony, however, it isn't always a crime. If you find out you have a stolen gun, you can, in most cases, turn it in to the local police without being charged with anything.Added: The biggest factor is if you KNOW that it IS stolen, or SUSPECT that it MIGHT be stolen. If you do not eliminate the doubt and confirm its legality you could be charged with Receiving Stolen Property.
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