I purchased my first plane, a Tri-Pacer, from a small-time dealer for $5,000. I got a nice bill of sale but when I went to register it, I discovered the dealer did not hold title nor had he paid its owner and the $5k was in the wind…along with a total of about a quarter million from two other considerably more substantial sales. Lawyer time, sued everyone, I did get the Tri-Pacer, the true owner settled for $1500 to escape the mess, the lawyer pocketed a similar amount, I got a valuable lesson on buying/selling airplanes, and the crooked dealer moved to Texas where he became a deacon at a local church.