as long as you have a bill of sale with the drivers license number of the guy selling it to you, they will just take the trailer away from you and you lose your money, then they go after him for possession and selling stolen goods not you.
now this only applies if you go get it registered right away (within a week or two) after purchase, if you hold onto it for a few months before doing the paperwork or get caught without it, the nyou are the one guilty of possessing stolen goods
bottom line is they have discretion and are not going to be jacks about it unless you try to hide something or you don't have proof of identity of who sold it to you.
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