Without a title, you stand the risk of losing the bike and the money you paid for it. This just happened to a freind of mine, purchased an XR400 from a mechanic who claimed he had a 'mechanics lean' on it, and "promised" to process the paper work through the DMV and send him the new title. Never happened, now he cant get a title, and the bike is still registered in the original owners name. Well, the original owner called the cops, and now my friend is out the money and the bike. :(