As said above, the original owner goes to Motor Vehicles. They pull up his records and the trailer should show the VIN number and license in his name. He the requests a duplicate title. When it comes in, he does the transfer to you.
Once you get it in your name, be aware that you must get your boat trailer inspected, just like your car. The inspection sticker is not necessarily attached to the trailer, but is kept on your person, along with your registration, ready to present to the officer who is asking for it. I think the fine is somewhere between $100 and $200 dollars.
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