It got a little fishier. The AOPA title search for this airplane came back. They found a break in the ownership in 1980. The title is not clear therfore and if I went for it, the sellers would have to clear this matter up (I can guess what they would say - "that is your problem, buy the plane as is or don't waste our time").
So, better to leave this alone, not dwell on it (as I am guilty of sometimes) and move on.