I would definitely do some homework on the history before even considering a purchase. Sounds like someone got shifty with the title at some point in that boats past. Its certainly not a 69, may not be worth the hassle.
Friend of mine purchased a Vette one time and had it for several years. Title and numbers mated up to the car but apparently there was a notary discrepancy at some point in the cars past, not much he could do to see it coming. When he listed the car in a local photo ad paper a guy showed up to look at the car, looked it over and left. Showed up a few hours later with a title and a sherrif and took his car home. My friend could only go after the guy he got it from years ago and that turned out to be futile at best. Do your homework! Fishy things usually smell that way for a reason . . . .