I think I would try and rebuild them both. There are tons of parts available but fewer and fewer whole bikes. Depending on where you are, it can be quite easy to get one. In your case it sounds like they know who the title holder is but they lost the title or it's a deceased relative. I think the $200 for the title is because they don't want the hassle of getting it. You could do all of the footwork, bring the proper papers to them. I don't know why they would have a problem with that.

I once tried to get a previous owner to sign off on a bike that had lost it's title. I found an old phone number for him and gave it a try. This old fellow answers, I tried to identify myself and explain the purpose of my call as best I could. I then asked him if he no longer had an interest in the bike, if he wouldn't mind signing off on it. He came right back with an angry "I ain't signing nutting'!!! That ended the call. I then proceeded to write a very polite letter to his wife, explaining my situation and that I hoped to restore the bike and ride it around with my son. I included the papers in the letter and a five dollar bill to cover having the papers Notarized at her bank. To my great surprised the papers were returned, signed, within the week. I quickly sent her off a box of chocolates and she countered with a wonderful letter. I hope her husband got over it.

$400 is a good deal. I'd even go for it, even though I have sworn off buying more CT90s.

Doug - Olympia - Washington
 I don't know how many CTs I have.