Okay guys, here's how the NC DMV screwed up and how I was unable to verify the vehicle wasn't stolen. I was a salvage dealer (recycling center) at the time. NC law allows us to buy vehicles over 10 years old without a title provided we get a copy of the seller's driver's license and keep record that we turn in to the DMV. I followed the letter of the law and bought the vehicle for junk. Then it was parked and scheduled to be crushed.
Later in the day when I got free from the office I took a second look at the truck and found keys on the floorboard. Tried them and it cranked. Cummings diesel, Allison automatic, working dump bed and our struggling little business was in need of a dump truck. I drove it off the crush line and parked it next to the shop and told the yard foreman not to let anyone touch it.
A few weeks later I called DMV to start the title bonding process. They gave me the option of a temporary tag to drive the truck across town to their inspection shop but I said the brakes were unsafe so instead they came to me. First time out all they did was run the VIN to see if the truck had been reported stolen.
A few weeks more passed and the DMV agent called to tell me I would be getting a title in the mail soon but because this truck also required FMVS safety inspections required for trucks there would be more inspections before I could drive it on the road. Title came in a few days so I asked the guys in the shop to start work on the truck. We probably put $10,000.oo worth of parts on the truck (Alcoa wheels, new tires, brakes, glass, chrome stacks, etc.) but because it was all stuff we took off of other trucks and buses we were crushing it seemed like the thing to do.
Now here's where the DMV screwed up. Before I was given a title, the DMV was supposed to contact the owner of the truck to let him know that I was trying to title his truck but someone at the DMV slipped up and sent me a "free and clear" title before they sent him the letter. I had the truck on the road for a month or two before the owner ever got the letter and I took my sweet time about getting the truck on the road mostly because the rest of the business was keeping me busy about 16 hours a day.
Now, about the low life who sold me the stolen truck. I did everything I was supposed to do and the local cops used my copy of his drivers license to track him down and send him to prison. As part of his sentence, the judge order him to pay me back. About a year later he got out of prison but a few weeks later was locked up again for grand theft auto. Apparently, the dude plans on being a lifer.
So guys, here's the deal, even if it's not reported stolen doesn't mean it isn't stolen. People only report things stolen after they find out they've been ripped off. And people who have a lot of stuff stashed away in a lot of places often go a long time between inventories. The thieves know this and are hoping you don't.
Like grizld1 said, "a bike without a title is a parts bike..." Keep that in mind and odds are good you won't get burned. If the title was easy the seller would have a title.