Get it out of the owners name within atleast a week after you traded or suffer the consequences, You should have done this no sooner than you got the car home,Legally the car is still his as long as it is in his name,Look it up that is the law! He could have reported the car stolen,so be glad he did you a favor and didn't and just took it on his self and junked the title. Don't take this the wrong way, Just look at this as the truth. my 2 cents...........