I bought a title for my '47 Ford, it was from a '48 (the only one they had at that time). Then I made a new serial number plate for the frame. When I sold it, the guy had no trouble registering it in his name.
Not long after, I bought a car from CA with the title, but it was signed by one of the (many) intermediate owners. That turned into a loooong drawn out affair, as I had to track down the owner who's name was originally on the title and get him to sign the transfer papers. Got really lucky on that one!