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Originally Posted by 96Civ
We are not talking about American Choppers... you need to stop watching TV. Even THEY don't do frame welding.  Let me make this plain and simple so you understand: You take a "bill of sale" to the DMV. A Bill of sale has 2 signatures on it. The previous owners and the buyers. When you process this "Bill of Sale" they change the title over to you. It's the saaaame thing as having a title just another step.
Now, unless a theif is stupid enough to sell the frame (Keeping the evidence), or give it to a salvage yard that photocopies their drivers liscense, guess who takes the fall when they realize it was stolen? Not the salvage yard it was given to.
Most of the bikes, atleast in this country are not considered "High Dollar" by your definition. If you crash a brand new 2006 Yamaha R1 after pulling out of the dealer and hit an oncomming car at 60mph and twist the frame an inch... guess who will pay to have it fixed? Your insurrance company? A body shop? No, just about no one unless you want to spend more money than the frame was worth to begin with. You sell your aluminum frame as scrap metal because that's as "High Dollar" you get.
Motorcycles are not cars. Get your facts strait. 
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One of us is missing the point...
Let's try it this way...which numbers does your DMV use as the VIN on a bike...engine or frame? Here we use frame #. So if you buy a frame, you basically bought the bike. Everything else you put on that frame is a non-issue, because the bike is titled as the vehicle the frame # indicates it is.
So you could buy a '78 Honda SuperSport frame, chop and stretch the hell outta it, put a springer on the front and an S+S 120 on it, and it'd still be titled as a '78 Honda SuperSport.
Of course they weld frames...and bend tubing...and fab tanks...and lots of other stuff

What kinda custom shops have you been hanging around?
Agreed, trying to straighten an aluminum deltabox would be idiocy, not just from a technical standpoint, but also that alloy doesn't like to bend without fracturing, so it'd probably break in two on ya at some point, true.
Anyhow, here, if you buy a frame without a title, even with a bill of sale, you just bought a really big paperweight, 'cuz you can't legally build on it.
(Unless you put a VIN#'d head tube on it)