Absolutely it will. Putting a third axle in front of the other two move the pivot point of the trailer forward thus taking a bit of weight off the tongue. We experimented with this using jacks and that does work. Not sure I want a third axle though.
We're going to try for some weight distribution that is within out boundary conditions and see how close we get to a "legal" weight. As I mentioned before, the trailer does great, it is just way above the maximum weights speced for the receiver and hitch.
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