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I am sorry to hear about this situation. I am going to assume that her conviction made her ineligible to own a firearm under 18 USC § 922(g) (family violence, felony, or misdemeanor punishable by imprisonment for a term exceeding one year).
If so, then you can own a firearm, she cannot.
Here is the problem. The authorities are likely going to try to view this as ""constructive possession." Meaning, that you own the firearm and you control it on paper, but you let her borrow it.
As such, you can expect spot checks from her PO (parole officer) that check to see if the firearm is really in its place and locked, possibly visits from the police, maybe even ATF. They love to harass people about constructive possession and will do everything they can do try to pin her with possession, and possibly you with aiding her with it.
So while technically this is allowed, in reality, you would be opening up a can of worms and asking for trouble if this happens.
In addition, terms of her parole likely disallow her to live on a property with firearms anyhow (whether they are locked or not). if true, she may be parole-violated simply for being on the same property whether she knew about the firearm or had access to it, or not.
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